Quick take:
- Built on the Bitcoin Lightning Network, Speed offers global payment rails powered by stablecoins.
- The platform processes more than $1.5 billion in annual payment volume across consumers, creators, platforms, and enterprise merchants.
- Speed’s flagship products, Speed Wallet and Speed Merchant, serve 1.2 million users and businesses, offering instant payments, native BTC, and USDT settlement.
Speed1 Inc., “Speed”, has secured $8 million in a strategic investment led by Tether and with participation from Ego Death Capital.
Tether said its investment in the stablecoin infrastructure development company aligns with its broader strategy to strengthen Bitcoin-aligned financial infrastructure and expand USDT’s utility in real-world payment environments.
Built on the Bitcoin Lightning Network, Speed offers global payment rails powered by stablecoins. Speed’s flagship products, Speed Wallet and Speed Merchant, serve 1.2 million users and businesses, offering instant payments, native BTC, and USDT settlement.
According to the press release by Tether, Speed processes more than $1.5 billion in annual payment volume across consumers, creators, platforms, and enterprise merchants.
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 wrote in the announcement.
Commenting on his company’s investment, Paolo Ardoino, CEO of Tether, said in a statement: “We support teams building practical infrastructure that reduces friction in payments and expands access to reliable settlement rails. Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce.”
Niraj Patel, CEO of Speed1, Inc., commented: “Crypto has lived in the world of speculation for too long. Speed is making it usable – instantly, globally, and at scale. Lightning gives us speed; stablecoins give us universal access; our infrastructure brings it all together for consumers, creators, and merchants.”
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