Tether Invests in Lightning Network Payments Firm Speed to Advance Bitcoin-Based Settlements
Tether has co-led an $8 million funding round for Speed, a company specializing in Lightning Network payments, with participation from Ego Death Capital. Speed processes over $1.5 billion in annual payment volume and serves around 1.2 million users and businesses.
The company's products, Speed Wallet and Speed Merchant, enable instant Bitcoin and USDT settlement and offer global routing services for enterprise customers. Speed leverages the Lightning Network and stablecoins to provide high-volume, low-fee, and compliant global settlements.
This investment aligns with Tether's strategy to expand its USDT stablecoin on Bitcoin's Lightning Network and strengthen the Bitcoin-based payments infrastructure. As of its October 31 attestation, Tether holds nearly $9.9 billion worth of Bitcoin and plans to further bring USDT to Bitcoin and the Lightning Network as part of a broader infrastructure expansion.
