Tether Invests in Crypto Startup Powering Stablecoin Use via Bitcoin Lightning Network
Tether has co-led an $8 million funding round for Speed, a payments firm leveraging the Bitcoin Lightning Network and stablecoins like USDT for instant global settlements. Speed processes over $1.5 billion in annual payments and serves 1.2 million users and businesses through its Speed Wallet and Speed Merchant products, offering instant payments and reliable Bitcoin and USDT settlement for enterprises. This investment supports Tether’s goal to enhance Bitcoin-based financial infrastructure and expand practical uses for USDT in everyday payments. Speed utilizes the Lightning Network for high-volume, low-fee, and globally accessible transactions. Tether holds nearly $9.9 billion in Bitcoin and has invested in other Bitcoin-focused firms. The company is also pursuing major investments in diverse sectors, including robotics, media, and sports, though a recent $1.2 billion bid for Italian soccer team Juventus was rejected. Bitcoin recently recovered to around $87,500 and prediction markets expect it could rise to $100,000 before dropping to $69,000.
