Tether Invests in Crypto Startup Powering Stablecoin Use via Bitcoin Lightning Network

Core Insights - Tether has made a strategic investment in Speed, a payments infrastructure firm, co-leading an $8 million funding round to enhance Bitcoin-based financial infrastructure and expand USDT's applications in real-world payments [1][3] Group 1: Investment Details - Tether co-led an $8 million funding round for Speed alongside Ego Death Capital [1] - Speed currently processes over $1.5 billion in annual payment volume, serving 1.2 million users and businesses [2] Group 2: Technology and Operations - Speed utilizes the Bitcoin Lightning Network and stablecoins for instant global settlements, enabling high-volume, low-fee transactions [3] - The platform offers native Bitcoin and USDT settlement capabilities, providing reliable global routing for enterprise customers [2] Group 3: Market Context - Tether's CEO highlighted the potential of Bitcoin-rooted networks for mainstream commerce, emphasizing the importance of practical infrastructure in reducing payment friction [4] - Bitcoin's recent trading price was around $87,500, reflecting a 1% increase after a dip earlier in the week, with a notable 30% decrease from its all-time high of over $126,000 [4] Group 4: Broader Business Activities - Tether holds nearly $9.9 billion worth of Bitcoin and has made various investments in Bitcoin-centric firms [5] - The company is reportedly working to raise $20 billion in funding at a $500 billion valuation and has participated in significant investment rounds recently [6]