Stablecoin giant Tether led an $8 million strategic investment in Speed, a payments infrastructure company that combines Bitcoin’s Lightning Network with stablecoin settlement to move funds in real time.
Tether said in a press release that Speed processes more than $1.5 billion in payment volume annually and serves approximately 1.2 million users and businesses through its wallet and commerce products.
Speed’s system handles payments via the Lightning Network due to its high speed, while allowing users who require predictable value to settle in USDT.
Tether said the investment supports its efforts to strengthen Bitcoin-related financial infrastructure and expand how USDT is used beyond trading. CEO Paolo Ardoino described the speed as proof that the Lightning Network can handle real commerce when paired with a stable digital dollar.
“Cryptocurrencies have been around in the speculative world for too long,” said Niraj Patel, CEO of Speed. “Speed makes it available — instantly, globally, at scale. Lightning gives us speed; stablecoins give us universal access; and our infrastructure brings it all together for consumers, creators and merchants.”
The deal comes as Tether continues to use its massive profits to aggressively invest across various industries. These include a majority stake in Latin American agriculture company Adecoagro (AGRO), a privacy-focused health app, and a stake in video-sharing platform Rumble (RUM).
The company reported profits of more than $10 billion in the first nine months of the year, driven largely by interest on U.S. Treasury bonds backing USDT.