Tether has led an $8 million strategic investment in Speed, a platform focused on advancing Lightning-native, stablecoin-powered payments. The funding is aimed at accelerating the adoption of Tether's USDT on the Lightning Network, which would enable instant, low-cost transactions.

Speed, which operates products like Speed Wallet and Speed Merchant, currently processes over $1.5 billion in annual payment volume and serves 1.2 million users and businesses. The platform enables instant payments with native settlement in BTC or USDT, emphasizing high-reliability routing for enterprise use cases.

This investment aligns with Tether's strategy to bolster Bitcoin-centric financial infrastructure and enhance USDT's role in everyday payments. Speed's technology showcases the synergy between the Lightning Network's speed and stablecoins' price stability, offering low fees, compliance features, and worldwide accessibility.

“Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT,” said Paolo Ardoino, CEO of Tether.

The funding will fuel Speed's product development and global expansion, particularly in areas like cross-border transactions, creator economies, and merchant settlements where traditional systems remain slow and expensive.

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https://tether.io/news/tether-leads-8m-strategic-investment-in-speed-to-advance-lightning-native-stablecoin-powered-payments/