Tether has led an $8m strategic investment round in Speed, a payments firm building global settlement rails using the Bitcoin Lightning Network and stablecoins.
The funding round was co-led by ego death capital and is aimed at accelerating the adoption of instant, low-cost global payments by combining the speed of Bitcoin’s Layer 2 technology with the price stability of USDT.
Speed said it currently processes more than $1.5bn in annual payment volume and serves around 1.2 million consumers and businesses. Its platform includes the Speed Wallet and Speed Merchant products, which enable instant payments and native settlement in both bitcoin and USDT.
The company positions itself as infrastructure for real-world commerce, focusing on payments rather than trading or speculation. It allows merchants to accept Lightning-based payments while settling directly in stablecoins, addressing volatility concerns that have historically limited bitcoin’s use in everyday transactions.
Tether said the investment supports its broader strategy to expand the practical use of USDT in global payments. Paolo Ardoino, chief executive of Tether, said the combination of Lightning and a dollar-pegged stablecoin could significantly reduce friction in cross-border payments.
He said Speed’s growth showed that Bitcoin-linked networks are increasingly capable of supporting mainstream commercial use, particularly when paired with a stable and liquid digital currency.
Speed said the new funding will be used to scale its infrastructure, expand merchant adoption, and improve settlement capabilities across additional markets. The company aims to position itself as an alternative to traditional payment rails, particularly in regions where cross-border transfers are slow or expensive.
The investment comes amid renewed interest in payments-focused crypto infrastructure, as firms seek to demonstrate practical applications beyond trading and decentralised finance. Lightning-based payment networks have gained traction in recent years due to lower fees and faster transaction times compared with Bitcoin’s base layer.
Tether remains the largest stablecoin issuer by market capitalisation, and its investments increasingly target payment networks and infrastructure designed to embed USDT into everyday financial activity.
