PANews reported on May 18th that, according to The Block, stablecoin issuer Tether has invested in LemFi, a cross-border remittance fintech company, without disclosing the specific amount. Founded in 2021, LemFi has raised a total of $85 million and has over 1 million users. Part of this investment will allow LemFi to integrate Tether's settlement network, using USDT as the settlement layer in its main remittance channels operating in Africa and Asia, reducing its reliance on traditional payment networks such as SWIFT. Both parties stated that they will collaborate on improving the speed, cost, and transparency of cross-border remittances.