"Tether invested in LemFi, a remittance app serving 30 countries, to integrate USDT for global payments. CEO Paolo Ardoino notes this validates USDT for LemFi's 500,000 users, beating fiat in cost and speed. Building on a 2023 $33M raise, LemFi will next embed USDT across its product lines to scale globally."
"The stablecoin giant announced an undisclosed investment in LemFi, a migrant-focused remittance-based platform that allows users to send and receive money across 30 countries. The investment will support LemFi's integration of USDT across its product suite, delivering faster and cheaper services to its customers."
"Tether's capital injection will help LemFi continue expanding the use of stablecoins, particularly USDT, to power its business model and will include a broad implementation across LemFi's product lines to make it more efficient and faster. Per Tether's statements, this movement aims to support the company's mission to bridge the gap between traditional finance and digital assets, continuing to expand the support and adoption of stablecoins as a true alternative to fiat services."
"Stablecoins have become an alternative in activities where traditional finance, due to its constraints, fails to provide a quick and cheap alternative, such as remittances. Tether, issuer of USDT, the largest stablecoin in the cryptocurrency market, announced on Monday that it has made an undisclosed investment in LemFi, short for Lemonade Finance, a migrant-focused remittance platform serving customers in 30 countries."
Tether made an undisclosed investment in LemFi, a migrant-focused remittance platform serving customers across 30 countries. LemFi connects families and communities across the UK, the US, Canada, and Europe by enabling workers to send money to loved ones. The investment will support LemFi’s integration of USDT across its product suite to deliver faster and cheaper services. The plan includes broad implementation across LemFi’s product lines to improve efficiency and speed. The move is positioned as expanding stablecoin use as an alternative to fiat for remittances, where traditional finance can be constrained. LemFi previously raised $33 million in 2023 and will embed USDT further to scale globally.
Read at news.bitcoin.com
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