According to Cointelegraph, stablecoin leader Tether has spearheaded an $8 million investment round in Bitcoin startup Speed, aiming to advance enterprise stablecoin payments on the Bitcoin layer-2 Lightning Network. Tether emphasized the potential of Speed's architecture to integrate Lightning and stablecoins, facilitating high-scale money transfers with minimal fees, robust compliance, and extensive global reach. Tether's CEO, Paolo Ardoino, remarked that Speed's progress and adoption indicate that Bitcoin-rooted networks are poised for mainstream commerce.
The investment round also saw participation from Ego Death Capital, a Bitcoin ecosystem-focused entity. Speed currently serves over 1.2 million users, including consumers, creators, platforms, and enterprise merchants, through its Speed Wallet and Speed Merchant products, handling over $1.5 billion in annual payment volume. This strategic move aligns with Tether's broader objective to support Bitcoin-centric payment platforms and expand the utility of its Tether (USDT) stablecoin. Ardoino noted, "We back teams building practical infrastructure that reduces friction in payments and increases access to reliable settlement rails."
Tether's investment in Speed is part of a larger strategy, as the stablecoin issuer diversifies its interests across various sectors, including Bitcoin mining, AI, energy, finance, and even sports teams. Tether's substantial profits, primarily derived from interest on US Treasury bills backing USDT, have enabled these investments. The stablecoin boasts a market cap of $186.3 billion, making it the largest in the world. In the first three quarters of 2025, Tether reported profits exceeding $10 billion, following a $13.4 billion profit in 2024, establishing itself as one of the most profitable companies globally on a per-employee basis.
