In brief
- Tether co-led an $8 million investment in Speed, a Lightning Network payments firm processing $1.5 billion annually.
- The investment advances Tether’s strategy to expand USDT on Bitcoin’s Lightning Network for mainstream payments.
- Tether has made multiple recent investments, and made an offer to acquire Italian soccer club Juventus.
Prominent stablecoin issuer Tether has announced a strategic investment in Speed, a payments infrastructure firm utilizing the Bitcoin Lightning Network and stablecoins for instant global settlements. Tether said Tuesday that it co-led Speed’s $8 million funding round alongside Ego Death Capital.
Via products like Speed Wallet and Speed Merchant, Tether said that Speed currently processes over $1.5 billion in annual payment volume, serving 1.2 million users and businesses. The platform offers instant payments with native Bitcoin and USDT settlement capabilities, providing reliable global routing for enterprise customers.
This investment aligns with Tether’s strategy to strengthen Bitcoin-based financial infrastructure and expand USDT’s practical applications in real-world payments. Speed’s technology utilizes the layer-2 Lightning Network and stablecoins to power high-volume, low-fee transactions with compliance and global accessibility.
“Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT,” said Tether CEO Paolo Ardoino, in a statement. “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.”
Bitcoin recently traded at a price around $87,500, up more than 1% on the day after rebounding from a dip to nearly $85,000 on Monday. The leading cryptocurrency is down about 30% since hitting a new all-time high mark above $126,000 in early October.
Users on Myriad—a prediction market operated by Decrypt‘s parent company, Dastan—believe Bitcoin is poised to rise back to the $100,000 level sooner than it can fall to $69,000, giving the spike 69% odds as of this writing.
Tether is a major buyer and backer of Bitcoin, holding nearly $9.9 billion worth of BTC as of its latest attestation report on October 31. The company has invested in other Bitcoin-centric firms and said earlier this year that it will bring its flagship USDT stablecoin to Bitcoin and the Lightning Network.
The company, which is reportedly working to raise $20 billion in funding at a $500 billion valuation, has also made a number of notable investments of late. Last week, it participated in the $81 million seed round of a robotics company, and in November, boosted its total position in YouTube rival Rumble to around $677 million at current prices.
Last Friday, Tether made an all-cash offer valued around $1.2 billion to acquire a majority stake in Italian soccer giant Juventus, after buying a minority stake earlier this year. The current owner rejected the offer, however, leading to a stock price spike for the team on Monday.
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