Tether invests in LemFi for USDT remittances in Africa, Asia

Tether invests in LemFi to integrate USDT for remittances in Africa and Asia, aiming for faster, low-cost transfers and broader stablecoin-powered services.

Tether has made a strategic investment in LemFi, a financial platform that serves millions of cross-border users, especially diaspora communities sending funds from the UK, US, Canada, and Europe to Africa and Asia. This investment aims to integrate USDT as a settlement layer within LemFi’s main remittance corridors, replacing traditional, slower SWIFT transfers with near-instant, low-cost stablecoin settlements. LemFi, which supports payments into over 30 countries, will use Tether’s backing to expand its stablecoin-powered infrastructure. This will enable faster, more transparent, and accessible financial services for users. The partnership is designed to reduce reliance on traditional banking networks, improve transaction speed and cost, and make stablecoin use seamless for those preferring local currencies. While the financial terms were not disclosed, this collaboration marks a significant step toward embedding stablecoins into practical, everyday financial services in emerging markets.