Tether Backs Lightning Payments Firm Speed in $8M Strategic Investment

Hey! Did you know that Tether reported over $10 billion in profit in the first nine months of the year, driven largely by interest earned on U.S. Treasury assets that support USDT?

Tether, the stablecoin market leader, has made a $8 million strategic investment in Speed, a payment infrastructure firm that combines Bitcoin’s Lightning Network with stablecoin settlement to enable quick, real-time digital payments.

The investment demonstrates Tether’s increasing emphasis on extending USDT use cases into regular commerce and beyond cryptocurrency trading.

Speed offers pricing stability and worldwide accessibility by enabling consumers and merchants to settle payments in USDT while utilising Bitcoin’s Lightning Network for instantaneous transaction routing.

With its wallet and merchant payment solutions, Speed presently serves about 1.2 million customers and businesses and processes over $1.5 billion in annual payment volume.

Speed seeks to make cryptocurrency payments easy, dependable, and useful for everyday use by combining Lightning’s speed with stablecoin settlement.

According to Paolo Ardoino, CEO of Tether, the collaboration demonstrates how infrastructure aligned with Bitcoin may facilitate actual business when combined with solid digital currency.

He pointed out that Lightning Networks can swiftly transfer value while preserving consistent pricing for consumers and retailers when paired with stablecoins like USDT.

According to Niraj Patel, CEO of Speed, the company’s goal is to take cryptocurrency beyond speculation. He continued by saying that Lightning offers instantaneous payments, stablecoins enable worldwide access, and Speed’s infrastructure unifies these components at scale for global consumers, artists, and retailers.

Tether is investing its increasing profits across several industries at the time of the purchase. Recently, the corporation has supported companies in digital health, media, and agriculture, indicating a more comprehensive expansion strategy.

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