Stablecoin giant Tether has led an $8 million investment round in Bitcoin startup Speed to support its mission in enabling more enterprise stablecoin payments on the Bitcoin layer-2 Lightning Network.
“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 said in a statement on Tuesday.
“Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce,” Tether’s CEO Paolo Ardoino added.
The Bitcoin ecosystem-focused Ego Death Capital also contributed to Speed’s $8 million investment round.
Speed serves over 1.2 million consumers, creators, platforms, and enterprise merchants using its Speed Wallet and Speed Merchant products, processing more than $1.5 billion in annual payment volume.
The move also aligns with Tether’s strategy to support Bitcoin-focused payments platforms and broaden the utility of the Tether (USDT) stablecoin, Ardoino said.
“We back teams building practical infrastructure that reduces friction in payments and increases access to reliable settlement rails.”
Tether has been spreading bets across several sectors
The investment adds to over 140 companies that Tether already backs as the stablecoin issuer expands from Bitcoin mining to AI, energy, finance, and even football teams.
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Many of those investments have come from Tether’s eye-popping profits over the last few years, which mostly come from interest on US Treasury bills that back USDT, the world’s largest stablecoin with a $186.3 billion market cap.
Tether continues to rake in billions of dollars of profit
Tether banked a profit of more than $10 billion across the first three quarters of 2025, building on the $13.4 billion in profit in 2024.
It is one of the most profitable companies in the world on a per-employee basis.
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