Stablecoin leader Tether has spearheaded an $8 million funding round for Bitcoin startup Speed, aimed at enhancing enterprise stablecoin payments via the Bitcoin layer-2 Lightning Network.
“Speed’s architecture illustrates how Lightning and stablecoins can collaborate to facilitate substantial transactions with minimal fees, robust compliance, and worldwide access,” Tether stated on Tuesday.
“Speed’s implementation and adoption indicate that Bitcoin-based networks are prepared for mainstream commerce,” added Paolo Ardoino, Tether’s CEO.
The Bitcoin-focused Ego Death Capital also participated in Speed’s $8 million funding round.
Speed caters to over 1.2 million consumers, creators, platforms, and enterprise merchants with its Speed Wallet and Speed Merchant solutions, processing more than $1.5 billion in annual payment volume.
This initiative aligns with Tether’s aim to bolster Bitcoin-centric payment platforms and enhance the utility of the Tether (USDT) stablecoin, according to Ardoino.
“We support teams developing practical infrastructure that diminishes payment friction and increases access to dependable settlement networks.”
Tether has diversified its investments across multiple sectors
This investment contributes to Tether’s backing of over 140 companies as the stablecoin issuer broadens its reach from Bitcoin mining to AI, energy, finance, and even sports teams.
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Many of these investments stem from Tether’s remarkable profits over recent years, largely derived from interest on US Treasury bills backing USDT, the largest stablecoin with a market cap of $186.3 billion.
Tether continues to generate significant profits
In the first three quarters of 2025, Tether reported a profit exceeding $10 billion, following a $13.4 billion profit in 2024.
It ranks among the most profitable companies globally on a per-employee basis.
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