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Nigerian-founded cross-border payments platform LemFi has secured a strategic investment from Tether, the world’s largest stablecoin issuer. The new investment will help LemFi accelerate the adoption of stablecoin-powered remittances across emerging markets.
Tether, issuer of USD₮, the world’s most widely used stablecoin, announced the investment without disclosing the financial terms. The investment signals a broader convergence between traditional FinTech and digital assets, accelerating the use of stablecoin-powered solutions in emerging markets.
At the heart of the partnership is a technical overhaul of how LemFi settles cross-border payments. Tether’s investment will support LemFi’s integration of USD₮ as a settlement layer across its key corridors, replacing multi-day SWIFT chains with near-instant, low-cost settlement across Africa and Asia.
Tether says it will also help accelerate LemFi’s stablecoin infrastructure, which will progressively extend across its broader product suite to deliver stable, transparent, and accessible financial services to customers on both sides of the corridor.
“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,” said Paolo Ardoino, CEO of Tether.
Founded in 2021 by Ridwan Olalere and Rian Cochran, LemFi was built to serve migrants and diaspora communities with financial tools designed to move money across borders. Formerly known as Lemon Finance, the platform now serves more than two million customers across Europe and North America, facilitating cross-border payments in more than 30 emerging markets, including Nigeria, Kenya, China, India, and Pakistan.
The investment from Tether will aid LemFi’s goal of growing beyond its remittance roots and build a fuller stack of financial services. In 2025, the company acquired London-based credit fintech Pillar to extend lending services to customers who are typically invisible to mainstream lenders.
It has also secured regulatory approval from the Central Bank of Ireland to acquire Bureau Buttercrane, giving it access to the entire European Economic Area. Its product suite has since expanded to include Send Now Pay Later (SNPL), instant access savings, and LemFi Credit.
“Tether’s investment is a significant milestone for us at LemFi, but more importantly, it is a validation of the direction we are heading,” said Ridwan Olalere, co-founder and CEO of LemFi.
He added, “We have always believed that the financial system should work equally well for everyone, regardless of where they live or where they are sending money. 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.”
The new investment comes just weeks after LemFi chose London as its new global headquarters and committed $134.9 million over the next five years to scale its technology, compliance operations, and workforce in the British capital.
Since its founding, the company has raised over $85 million from investors including Y Combinator, Left Lane Capital, and Highland Europe, and employs more than 300 people across Africa, Europe, and North America. With Tether now in its cap table, LemFi is well-positioned to integrate diaspora finance and the digital asset ecosystem.
