Tether leads $8 million round in Lightning-based payment processor Speed
Quick Take
- Tether’s investment is part of a “broader strategy to strengthen Bitcoin-aligned financial infrastructure” and expand utility for its stablecoin USDT.
- The company’s independent investment division has made several investments in recent years in a diverse range of industries outside crypto.
Tether has made another investment, this time in a firm operating within digital assets.
The issuer of the USDT stablecoin said Tuesday it led, with Ego Death Capital, an $8 million funding round in Speed1 Inc., a payment processor building "settlement rails using the Bitcoin Lightning Network."
"Speed processes more than $1.5 billion in annual payment volume across consumers, creators, platforms, and enterprise merchants," said Tether, adding that Speed serves over 1 million users and businesses.
"Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT," Tether CEO Paolo Ardoino said. "We support teams building practical infrastructure that reduces friction in payments and expands access to reliable settlement rails. Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce."
The company also said investing in Speed is part of its "broader strategy to strengthen Bitcoin-aligned financial infrastructure and expand USDT’s utility in real-world payment environments."
Tether, which has been earning billions of dollars in profit in recent years, has an investment arm that has funded a diverse portfolio of companies. Besides investing in artificial intelligence, robotics, and gold, Tether also made an offer last week to buy Juventus Football Club.
USDT's total supply is $186 billion.
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