Tether Invests $8 Million in Speed to Drive USDT Adoption in Everyday Payments
Tether has invested $8 million in Speed, a payments infrastructure company that combines Bitcoin's Lightning Network technology with stablecoin settlement using USDT. Speed processes over $1.5 billion in annual payment volume and serves approximately 1.2 million users and merchants through its wallet and merchant products.
The company's platform routes payments over the Lightning Network to ensure speed, while settling transactions in USDT to provide stable value. This investment aims to strengthen Bitcoin-aligned financial infrastructure and to expand the use of USDT beyond trading activities.
Paolo Ardoino, CEO of Tether, highlighted that Speed exemplifies how Lightning networks can support real commerce when paired with a stable digital dollar. Speed CEO Niraj Patel described the platform as enabling instant, global, and scalable Lightning-based payments with universal access via stablecoins.
Tether has been deploying profits into various ventures, including stakes in Adecoagro, a privacy-focused health app, and Rumble. The company reported over $10 billion in profit during the first nine months of the year, largely driven by interest on U.S. Treasuries backing USDT.
