Tether has announced it is officially backing the LemFi team to scale stablecoin remittances and transfers from and to LATAM countries.
The strategic investment will also include technical support from the Tether side to complete the integration and transfer of USDT stablecoins in different geographical locations and payment rails.
In a blog, Tether CEO Paolo Ardoino had stated:
Our investment in LemFi reflects our shared vision on how money moves across borders, prioritizing speed, cost, and transparency. 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.”
To this, LemFi Co-Founder and CEO Ridwan Olalere had added:
Integrating USD₮ into our infrastructure brings us closer to that reality, enabling faster, cheaper, and more reliable financial services for the millions of people who depend on us every day,”
LemFi focuses on providing a platform to manage personal credit, finance and savings for individuals and families living abroad. It is currently already serving over 1M+ customers for daily international transfers, spending, and savings.
Before this, the team had found success in emerging markets across Asia and Africa, now looking to do the same in countries like Argentica, Brazil, Mexico, Bolovia, and more.
Emerging markets tend to have higher currency volatility and therefore cheaper ways to send international payments can often make all the difference. Adoption of stablecoin technology continues to rise.
