Tether, with the codes USD₮ and USDT, is a cryptocurrency stablecoin issued by Tether Limited Inc., the biggest crypto firm in the digital asset industry. However, on May 8, 2026, Tether Limited announced that it had invested in LemFi to promote stablecoin-powered remittance solutions across emerging markets.
LemFi is a fintech company that helps millions of people who live and work abroad to send, receive, and manage money across borders. The platform is one of the most trusted International Money Transfer Operator (IMTO) people in the UK, US, Canada, and Europe use to stay financially connected with their families and friends across Africa and Asia.
LemFi uses a multi-day Society for Worldwide Interbank Financial Telecommunication (SWIFT) chains to process cross border transactions. This method is a traditional international money transfer process that moves through the SWIFT network using multiple intermediary banks before the money reaches the final destination.
Now, with Tether’s investment, LemFi’s integration of USD₮ as a settlement layer could eliminate this traditional process and support near-instant, low-cost settlements across its operating markets including Nigeria, Kenya, Egypt, Uganda, India, and China. The investment will also enhance LemFi’s stablecoin infrastructure, which will progressively covers all of LemFi's products to provide better performances across all its operating markets.
The investment is part of Tether's plans to eliminate the differences between traditional finance (TradFi)—otherwise known as centralized banking—and digital finance—often specialized as decentralized finance (DeFi)—using blockchain technology. USDT (USD₮) is the world’s largest stablecoin by market capitalization and one of the most widely used digital dollars in the crypto industry.
Tether is using USD₮ to bridge the gap so that digital assets can be more stable to become a liquid digital payment solution.
USDT was launched in 2014 to create a blockchain-based version of the U.S. dollar. It maintains a stable value of roughly 1 US dollar per token and every token is backed by reserves held by Tether. This includes U.S. Treasury Bills, cash equivalents, and other assets. USDT operates across multiple blockchains including Ethereum, Tron, and Solana.
The multi-blockchain operations features that USDT possesses allow it be used as international payment currency. The digital dollar possesses faster settlement and lower fees than traditional banking systems. Because of all this features, USDT has become a reliable means for cross-border payments, crypto trading, remittances, savings in countries with weak currencies, and DeFi.
Tether CEO Paolo Ardoino said their investment in LemFi allows them to bring the advantages of a stable digital asset to more people who depend on remittances in their everyday transactions. LemFi, which is already established with over 2 million registered users globally, is setting a new standard for faster, seamless, and more inclusive remittances with Tether's investment.
Note*: The investment's transaction value is not unveiled by both companies.
