Tether leads $8M funding for Lightning startup focused on stablecoins

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Speed, which leverages the Bitcoin Lightning Network to facilitate USDT transfers, has secured $8 cardinal from Tether and Ego Death Capital.

Tether leads $8M backing for Lightning startup focused connected stablecoins

Stablecoin elephantine Tether has led an $8 cardinal concern circular successful Bitcoin startup Speed to enactment its ngo successful enabling much endeavor stablecoin payments connected the Bitcoin layer-2 Lightning Network.

“Speed’s architecture demonstrates however Lightning and stablecoins tin run unneurotic to determination wealth astatine precocious standard with debased fees, beardown compliance, and planetary reach,” Tether said successful a connection connected Tuesday.

“Speed’s execution and adoption awesome that Bitcoin-rooted networks are acceptable for mainstream commerce,” Tether’s CEO Paolo Ardoino added.

The Bitcoin ecosystem-focused Ego Death Capital besides contributed to Speed’s $8 cardinal concern round.

Speed serves implicit 1.2 cardinal consumers, creators, platforms, and endeavor merchants utilizing its Speed Wallet and Speed Merchant products, processing much than $1.5 cardinal successful yearly outgo volume.

The determination besides aligns with Tether’s strategy to enactment Bitcoin-focused payments platforms and broaden the utility of the Tether (USDT) stablecoin, Ardoino said.

“We backmost teams gathering applicable infrastructure that reduces friction successful payments and increases entree to reliable colony rails.”

Tether has been spreading bets crossed respective sectors

The concern adds to implicit 140 companies that Tether already backs arsenic the stablecoin issuer expands from Bitcoin mining to AI, energy, finance, and adjacent football teams.

Many of those investments person travel from Tether’s eye-popping profits implicit the past fewer years, which mostly travel from involvement connected US Treasury bills that backmost USDT, the world’s largest stablecoin with a $186.3 cardinal marketplace cap.

Tether continues to rake successful billions of dollars of profit

Tether banked a nett of much than $10 cardinal crossed the archetypal 3 quarters of 2025, gathering connected the $13.4 cardinal successful profit successful 2024.

It is 1 of the astir profitable companies successful the satellite connected a per-employee basis.

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