Tether’s stablecoin has made an investment of $8 million into the Bitcoin startup Speed. The money will be used to further its mission, which is to enable more stablecoin transactions on Bitcoin Layer-2 Lightning Network.
“Speed’s architecture demonstrates how Lightning and stablecoins can operate together to move money at high scale with low fees, strong compliance, and global reach,” Tether said The statement was made on Tuesday.
“Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce,” Tether’s CEO Paolo Ardoino added.
Speed also received $8 million from Ego Death Capital.
Speed’s Speed Wallet, Speed Merchant, and Speed Platform products are used by over 1.2 millions consumers, creators and platforms. They process more than $1,5 billion worth of payments annually.
This move is also in line with Tether’s support strategy Bitcoin-focused payments platforms The following are some examples of how to get started: broaden the utility The TetherUSDT) stablecoin, Ardoino said.
“We back teams building practical infrastructure that reduces friction in payments and increases access to reliable settlement rails.”
Tether is betting on several different sectors
Tether, the stablecoin provider that has expanded from Bitcoin mining Artificial intelligence, finance, energy and more football teams.
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Tether, the stablecoin that is currently the most popular in the market, has seen a huge increase in profits. These are primarily due to interest from US Treasury bills, which back USDT.
Tether keeps on raking billions in profit
Tether banked Profits exceeding $10 billion in the first quarter of 2025. $13.4 billion in profit By 2024.
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Source: cointelegraph.com
