LemFi, a fintech company that specializes in cross-border money transfers, has partnered with Tether, a leading provider of digital assets, to expand its services and promote financial inclusion. The partnership aims to address the challenges faced by migrants and underserved communities in accessing financial services, particularly in emerging markets. LemFi's robust transaction processing capabilities and Tether's reputation for stability and transparency make them a strong fit for each other.
LemFi, a fintech company established in 2016, rebranded as LemFi in 2018 and has raised over $85 million in funding, including a $53 million Series B round in January 2018 led by Highland Europe.
LemFi currently serves over 2 million customers in the UK, US, Canada, and Europe, focusing on cross-border money transfers to emerging markets, particularly in Africa and Asia. LemFi has processed over $1 billion in transactions per month as of early 2018, making it an attractive partner for Tether in expanding USDT usage to the real-world market.
Paolo Ardoino, CEO of Tether, stated that the investment aligns with the company's mission to promote financial inclusion, emphasizing speed, cost, and transparency in cross-border payments, which are common challenges faced by migrants worldwide
Lemfi Tether Financial Inclusion Cross-Border Payments Emerging Markets
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