Tether backs Bitcoin Lightning startup Speed in new funding round
Tether led an $8 million funding round for Speed, a payments infrastructure provider using Bitcoin Lightning and stablecoins.Summary
Tether announced a strategic investment, leading an $8 million funding round for Speed1, Inc., a payments infrastructure provider that integrates the Bitcoin Lightning Network with stablecoins like USDT for instant settlement. This funding round, which also included ego death capital, supports a platform that already handles over $1.5 billion in annual payment volume for more than 1 million users and businesses, offering native BTC and USDT settlements. Tether CEO Paolo Ardoino stated that Speed demonstrates Lightning's potential when combined with a stable digital dollar like USDT, emphasizing support for infrastructure that reduces payment friction. Speed CEO Niraj Patel highlighted that the company makes crypto usable globally and at scale by combining Lightning's speed with stablecoins' universal access.
(Source：Crypto Briefing)