Tether backs Bitcoin Lightning startup Speed in new funding round

Source: CryptoNewsNet Original Title: Tether backs Bitcoin Lightning startup Speed in new funding round Original Link:

Key Takeaways

• Tether led an $8 million funding round for Speed1, Inc., supporting Bitcoin Lightning Network and stablecoin payment infrastructure.
• Speed enables over $1.5 billion in annual payment volume with instant BTC and USDT settlement for consumers and merchants.

Tether announced that the company had made a strategic investment in Speed, a payments infrastructure provider leveraging the Bitcoin Lightning Network and stablecoins for instant settlement.

Tether led Speed’s $8 million funding round alongside ego death capital, supporting a platform that already processes more than $1.5 billion in annual payment volume.

Speed’s products serve over 1 million users and businesses, offering instant payments with native BTC and USDT settlements across consumers, creators, platforms, and enterprise merchants.

Tether CEO Paolo Ardoino commented: “Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT. 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.”

Niraj Patel, CEO of Speed1, Inc. added: “Crypto has lived in the world of speculation for too long. Speed is making it usable – instantly, globally, and at scale. Lightning gives us speed; stablecoins give us universal access; our infrastructure brings it all together for consumers, creators, and merchants.”

The investment reflects Tether’s commitment to expanding the Bitcoin-aligned infrastructure and increasing USDT’s utility beyond trading, positioning Lightning-based networks as viable settlement rails for global commerce.