CMC News

Tether Leads $8M Round in Lightning Payments Firm Speed

#Tether has invested $8 million in Speed alongside Ego Death Capital, backing the payment processor's infrastructure built on Bitcoin's Lightning Network. The funding round closed Tuesday, with Tether taking the lead investor position.

Speed processes over $1.5 billion in annual payment volume across consumer, creator, platform, and enterprise merchant channels. The company serves more than 1 million users and businesses through its wallet and merchant products.

The payment platform routes transactions over #Lightning for speed while enabling settlement in $USDT for price stability. Speed's system combines Bitcoin's network effects with stablecoin predictability for mainstream commerce applications.

CEO Paolo Ardoino described Speed as evidence that Lightning networks can handle real-world payment flows when paired with liquid digital dollars. Tether views the investment as strengthening #Bitcoin-aligned financial infrastructure and expanding USDT utility beyond trading.

#Speed CEO Niraj Patel said the platform aims to move crypto from speculation to practical use at scale. The company's technology layer connects Lightning's transaction speed with stablecoin accessibility for consumers, creators, and merchants.

Tether's investment arm has deployed capital across diverse sectors including artificial intelligence, robotics, and gold mining. The company recently made an offer to acquire Juventus Football Club, expanding beyond digital asset investments.

The stablecoin issuer reported over $10 billion in profit during the first nine months of this year. Earnings stem primarily from interest on U.S. Treasury holdings backing USDT's $186 billion supply.

The funding supports Tether's strategy to position USDT in real-world payment environments rather than limiting the #stablecoin to exchange trading and DeFi protocols.