Company #Tether — the issuer of the stablecoin $USDT — announced a strategic investment in the startup #Speed1 . In addition to Tether, the funding round of $8 million was led by the venture fund Ego Death Capital.

The press release stated that Speed is developing infrastructure for instant global payments using the Bitcoin Lightning network and stablecoins. The company's main products — Speed Wallet and Speed Merchant — already serve over 1.2 million users and companies.

Tether's CEO Paolo Ardoino noted that Speed demonstrates how Lightning combined with a liquid digital dollar, such as USDT, can provide efficient payment solutions.