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

In brief

  • Tether co-led an $8 million investment in Speed, a Lightning Network payments firm processing $1.5 billion annually.
  • The investment advances Tether’s strategy to expand USDT on Bitcoin’s Lightning Network for mainstream payments.
  • Tether has made multiple recent investments, and made an offer to acquire Italian soccer club Juventus.

Prominent stablecoin issuer Tether has announced a strategic investment in Speed, a payments infrastructure firm utilizing the Bitcoin Lightning Network and stablecoins for instant global settlements. Tether said Tuesday that it co-led Speed’s $8 million funding round alongside Ego Death Capital.

Via products like Speed Wallet and Speed Merchant, Tether said that Speed currently processes over $1.5…

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