LemFi plans to integrate USDT-based settlement for cross border remittances from Europe and North America to emerging markets. The move is expected to reduce transaction processing times from several days to near-instant settlement, while also lowering transfer costs.
London-based FinTech platform LemFi announced a strategic partnership with Tether as the company looks to integrate dollar-pegged stablecoins into its cross border payments infrastructure. The initiative is designed to replace traditional multi-step SWIFT settlement flows with a faster and lower-cost system built around USDT.
LemFi operates across the UK, the U.S., Canada, and Europe, connecting users with recipients across Africa and Asia. The company is focused on expanding cross border remittance services for customers who regularly send money to family members and relatives abroad.
The use of stablecoins is expected to:
- reduce international settlement times from several days to minutes;
- lower remittance fees;
- improve transaction transparency;
- expand access to financial services across emerging markets.
According to the company, USDT will serve as the settlement layer for key payment corridors on the platform. LemFi also plans to gradually extend its stablecoin infrastructure to additional products and services.
Tether CEO Paolo Ardoino said the partnership is aimed at improving the speed, transparency, and accessibility of international money transfers. He added that digital assets can make financial services more efficient for millions of people who rely on cross border payments on a daily basis.
Ridwan Olalere, LemFi’s CEO & Co-founder, added that integrating USDT would help the company move closer to building a lower-cost and more reliable global payments system, regardless of where users are located.
The companies said the combination of stablecoin liquidity and LemFi’s presence across emerging markets could help establish a new standard for international remittances centered on speed and accessibility.
Earlier, according to analysts at Andreessen Horowitz, stablecoins increasingly displaced traditional financial instruments in the cross border payments sector due to lower fees, near-instant settlement, and the absence of intermediaries.
