LemFi has obtained 14 new Money Transmitter Licenses (MTLs) across the United States, significantly extending its regulatory presence in one of the world’s largest remittance markets.
The new licences cover states including Illinois, Michigan, Arizona, Oregon and Delaware, enabling LemFi to move funds directly under state supervision and manage transfers without relying on third-party processors. The company said the approvals will improve transparency, processing efficiency and customer protection as part of its operations in the United States.
LemFi said the expansion strengthens its compliance credentials at a time of heightened scrutiny in the fintech sector and positions the business alongside more established financial institutions. The U.S., home to an estimated 52 million people with immigrant backgrounds, remains the world’s biggest remittance-sending country, with about $93 billion transferred to other nations in 2023.
The company, which reports a global customer base of around two million, says the added licences will allow it to reach more users seeking regulated, secure methods to support family members overseas and manage personal finances. Global remittance flows rose 4.6 percent between 2023 and 2024, and analysts expect the market to exceed $1.5 trillion by 2033.
LemFi’s new U.S. approvals add to its portfolio of international licences, including an Electronic Money Institution licence in the United Kingdom, a Payment Institution licence in Ireland and a Money Service Business licence in Canada. It has also established partnerships with financial providers such as GCash, UBL, eSewa and ClearBank.
According to Janine Ross, LemFi’s group head of compliance, securing MTLs demonstrates long-term commitment to regulatory standards and customer trust. LemFi is also expanding its product suite with services such as LemFi Credit and Send Now Pay Later, which seek to support immigrants with limited access to traditional lending channels.
