Tether backs cross-border platform LemFi to integrate USDT and replace traditional SWIFT chains across Africa and Asia.
Digital asset manager Tether has announced a strategic investment in LemFi, a cross-border financial platform, to promote financial inclusion and expand access to borderless payment systems by deploying stablecoin infrastructure within emerging markets.
LemFi serves cross-border communities and migrant workers in countries like the United Kingdom, the United States, and Canada by facilitating remittances to families in Africa and Asia.
Through this partnership, LemFi will integrate USDT as an underlying settlement layer across its primary financial corridors. The implementation aims to replace traditional, multi-day SWIFT banking chains with near-instant, lower-cost blockchain transactions.
Paolo Ardoino, CEO of Tether, said: “By supporting LemFi’s growth and innovation roadmap, we are helping bring the benefits of a stable digital asset to more people who rely on remittances in their daily lives.”
The integration will progressively extend across LemFi’s wider product suite to deliver more financial services to consumers on both sides of its remittance corridors.
Ridwan Olalere, CEO and co-founder of LemFi, added: “We have always believed that the financial system should work equally well for everyone, regardless of where they live or where they are sending money.”
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