LemFi partners with BVNK to use stablecoins for faster, cheaper remittances

LemFi, the Nigerian-founded London-based remittance app serving over 2 million customers in the UK, Europe, North America and Australia, has partnered with BVNK, a stablecoin payments infrastructure firm, to move its cross-border settlement onto stablecoin rails. Customers will still send pounds or dollars and recipients will continue to receive naira, shillings or cedis; the only change is that the behind-the-scenes settlement between financial institutions now uses stablecoins instead of traditional correspondent banking and SWIFT, which can take days and add fees.

Why this matters: Global remittance costs average 6.36% and in Sub-Saharan Africa reach 8.78%, far above the UN's 3% target. By cutting out several intermediary banks, the stablecoin route can lower fees and speed up delivery, putting more money in the hands of families and businesses that rely on cross-border transfers.

What you should know: If you use LemFi to send or receive money, watch for lower transaction costs and faster settlement times. You do not need to hold or interact with crypto—the stablecoins operate only in the settlement layer. LemFi's recent moves—acquiring UK credit startup Pillar, a Tether investment, and buying wealth-management platform Wealth8—show it is building a broader financial suite beyond remittances.

SOURCE: https://techcabal.com/2026/07/22/techcabal-daily-bvnk-once-for-stablecoins/