LemFi partners BVNK to power stablecoin-based remittance settlements

LemFi has partnered with stablecoin infrastructure provider BVNK to settle cross-border transactions using stablecoins, a move the fintech says will enable near-instant value transfers while lowering the cost of remittances for its customers.

The partnership is the latest step in LemFi’s efforts to modernise the infrastructure underpinning international money transfers, replacing traditional settlement systems with blockchain-based alternatives that can move funds faster and more efficiently.

“The money that crosses borders still moves on rails built decades ago — slow, expensive, and quietly taxing the people who can least afford it,” Ridwan Olalere, co-founder and CEO of LemFi, said. “We’re rebuilding those rails. Stablecoins let us settle near-instantly and reduce costs; BVNK provides the infrastructure to do so safely and at scale. It’s the start of something bigger: the financial system the diaspora economy should have had all along.”

LemFi serves more than two million customers across the UK, Europe, Africa, and North America, helping immigrants send and receive money across borders. While remittances remain its core business, the company has steadily expanded its product offering in recent months, adding savings, credit, and wealth management products as it seeks to become a broader financial services platform for immigrants.

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The company has also moved quickly to incorporate stablecoins into its operations. Earlier this year, LemFi received an investment from Tether, the issuer of the world’s largest stablecoin, USDT, and announced plans to integrate the token as a settlement layer for its cross-border payment network.

The partnership with BVNK builds on that strategy by providing the infrastructure needed to settle transactions using stablecoins at scale.

Stablecoins have rapidly evolved from a niche crypto product into an increasingly accepted payment and settlement technology. Unlike traditional cryptocurrencies, whose price volatility has limited their use in everyday finance, stablecoins are pegged to assets such as the U.S. dollar, making them more suitable for payments. 

Their growing adoption has also attracted established financial institutions. Earlier this year, Mastercard announced an agreement to acquire BVNK, highlighting the increasing role stablecoin infrastructure is expected to play in global payments.

Last updated: July 21, 2026