Tether Invests in Cross-Border Financial Platform LemFi to Drive Stablecoin Remittance Applications in Emerging Markets

BlockBeats News, May 18th, Tether announced an investment in the cross-border financial platform LemFi to promote the use of stablecoins in the remittance scenario of emerging markets and expand the coverage of borderless financial infrastructure.

LemFi mainly serves cross-border users living and working in the UK, US, Canada, and Europe, providing financial services for their remittances to Africa and Asia. Tether stated that this investment will support LemFi in introducing USD₮ as a settlement layer in key cross-border corridors, replacing the traditional SWIFT multi-day settlement process to achieve lower costs and nearly instant cross-border transfers.

The two parties also plan to further expand the stablecoin infrastructure, gradually integrating USD₮ into LemFi's broader product ecosystem to provide more stable, transparent, and convenient financial services.

Tether CEO Paolo Ardoino stated that the company aims to promote global financial inclusion by supporting scalable financial solutions and believes that cross-border payments should focus more on speed, cost, and transparency.