LemFi and BVNK Partner to Rebuild Diaspora Economy Infrastructure with Stablecoin Settlement

LemFi, a financial platform for people living and working across borders, has partnered with BVNK to rebuild the infrastructure of the diaspora economy. The partnership aims to provide near-instant value transfers between markets at a fraction of the cost.

The current system involves correspondent banking and SWIFT chains that can take days to settle and add cost at every hop. LemFi's solution is to route settlement over regulated stablecoin rails behind the scenes, then pay out in local currency at the destination.

This move is part of a broader shift as stablecoins expand from the margins of crypto into mainstream payment infrastructure. Real-world stablecoin payment volumes reached $7.4 trillion over the last 12 months, and analysts expect stablecoins to grow from around 3% of the cross-border payments market today to as much as 20% within a decade.