Tether Invests $8M in Speed to Scale Lightning-Based Stablecoin Payments

Core Insights - Tether has led an $8 million investment in Speed1, Inc., a company focused on building global payment infrastructure using the Bitcoin Lightning Network and stablecoins [1] - The investment aims to expand real-world payment use cases for USDT and support Bitcoin-native financial infrastructure [1][5] Investment Details - The funding round included participation from Ego Death Capital and is part of Tether's strategy to enhance Bitcoin-aligned financial infrastructure [1][5] - The investment will support Speed's product development and global expansion efforts [2] Company Performance - Speed processes over $1.5 billion in annualized payment volume, serving approximately 1.2 million users and businesses [3] - Core products include Speed Wallet and Speed Merchant, which offer instant payments and settlement options in Bitcoin and USDT [3] Infrastructure and Functionality - Speed's infrastructure acts as a bridge between Bitcoin-native networks and practical payment needs, particularly for cross-border transactions and merchant settlements [4] - The integration of stablecoins with Lightning allows users to choose between volatility exposure and price-stable settlement [4] Strategic Alignment - Tether's investment supports the utility of USDT beyond trading, focusing on everyday payments and compliance [5] - The architecture of Speed demonstrates the potential for Lightning and stablecoins to operate together effectively, providing low fees and global reach [5] Vision for the Future - Speed aims to transition crypto from speculative use cases to functional global payments, leveraging Lightning for transaction speed and stablecoins for predictable value [6][7] - The platform is designed to support a wide range of users, including consumers, creators, and merchants, at scale [7]