The leading stablecoin company Tether is investing $8 million in Speed, a payments infrastructure firm.
The funding round, led by Tether with participation from Ego Death Capital, aims to advance stablecoin payments on Lightning – a network built on top of Bitcoin to power instant and cheap transactions.
The goal is to enable efficient payments with native Bitcoin and Tether’s USDT stablecoin.
Speed processes over $1.5 billion in annual payment volume across consumers, creators, platforms, and enterprise merchants.
Its products, Speed Wallet and Speed Merchant, serve 1.2 million users and businesses.
Says Tether CEO Paolo Ardoino,
“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.”
Tether first announced its bringing USDT to Bitcoin back in January, through a partnership with Lightning Labs
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sensvector/EB Adventure Photography
