Stablecoin issuer Tether has led an $8 million investment round in Lightning payments startup Speed, alongside Bitcoin ecosystem-focused venture firm Ego Death Capital.
Funding round and Lightning focus
Speed said the funding will support its push to enable more enterprise stablecoin payments over the Bitcoin layer-2 Lightning Network.
Tether said in a Tuesday statement:
“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 CEO Paolo Ardoino added:
“Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce.”
Speed’s reported scale
Speed said it serves more than 1.2 million consumers, creators, platforms, and enterprise merchants through its Speed Wallet and Speed Merchant products.
The company also reported processing more than $1.5 billion in annual payment volume.
Tether’s broader investment push
The Speed investment adds to more than 140 companies that Tether backs, as it expands into areas including bitcoin mining.
Profits and USDT growth
The report noted that many of Tether’s investments have been funded by profits tied largely to interest earned on US Treasury bills backing USDT.
Tether reported profit of more than $10 billion across the first three quarters of 2025, following $13.4 billion in profit in 2024.
USDT was described as the world’s largest stablecoin, with a $186.3 billion market cap.
