Tether Leads $8 Million Funding Round in Lightning Payments Firm Speed

Tether has led an $8 million funding round in Speed1, Inc., a payments infrastructure company focused on settlement systems built on the Bitcoin Lightning Network and stablecoins. The round was co-led by ego death capital.

Speed provides payment infrastructure for consumers, creators, platforms, and enterprise merchants. 

According to the company, it processes more than $1.5 billion in annualized payment volume and supports approximately 1.2 million users and businesses through its products, Speed Wallet and Speed Merchant. 

These services enable near-instant transactions with Bitcoin and USDt settlement and offer global routing designed for enterprise integrations.

Tether stated that the investment is intended to support its broader efforts to expand the use of USDt in payment and settlement applications while contributing to Bitcoin-related financial infrastructure. 

Speed’s platform combines Lightning-based transaction execution with stablecoin settlement, which the company says is intended to address speed, cost, and price volatility considerations in cross-border payments.

“Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDt,” said Paolo Ardoino, CEO of Tether. 

“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.”

Speed’s system allows users and merchants to transact over the Lightning Network while settling in stablecoins when price stability is required. 

The company has positioned this structure for use cases such as international transfers, creator payouts, merchant payments, and platform-level settlement.

“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,” said Niraj Patel, CEO of Speed1, Inc.

Speed said the funding will be used to expand its infrastructure and support additional integrations with merchants and platforms using Lightning- and stablecoin-based payment systems.