The financial landscape is evolving rapidly, and Tether, the biggest stablecoin issuer in the world, has recently made a groundbreaking move. Tether co-led an $8 million funding round in Speed, a pioneering payments infrastructure leveraging the Bitcoin Lightning Network and stablecoins to deliver instant, cost-effective global transaction solutions.
Tether Partners with Speed to Enhance USDT Utility
In a strategic move to advance innovation, Tether partnered with Ego Death Capital to lead this substantial investment in Speed. The platform is already a force to reckon with, processing over $1.5 billion annually while serving 1.2 million users and enterprises worldwide. Their tools – Speed Wallet and Speed Merchant – are designed to facilitate seamless Bitcoin and USDT transactions, paving the way for a more inclusive financial system.
Empowering High-Speed Payments with Bitcoin and Stablecoins
Speed’s cutting-edge technology leverages the layer-2 Bitcoin Lightning Network and stablecoins to enable quick, secure, and affordable global payments. This aligns perfectly with Tether’s mission to bolster Bitcoin-based infrastructure and extend practical applications of the USDT stablecoin beyond crypto trading to everyday transactions.
Tether CEO Paolo Ardoino remarked, “Speed is demonstrating the tremendous potential of combining Lightning Network capabilities with a stable and liquid digital dollar like USDT. By supporting innovative teams, we’re making mainstream commerce accessible and removing barriers in the payment ecosystem.”
The Broader Vision: Tether’s Expanding Influence
This isn’t Tether’s first foray into bold investments. Recently, the company made headlines by contributing to an $81 million seed round for a robotics firm and bolstering its position in YouTube rival Rumble. Furthermore, Tether’s cash bid of $1.2 billion to acquire a majority stake in the Italian soccer club Juventus demonstrates its intent to diversify its portfolio and solidify its influence across industries.
Over the years, Tether has also become a major player in the Bitcoin ecosystem, holding over $9.9 billion in BTC as of October. By integrating its flagship USDT stablecoin with the Bitcoin and Lightning Network infrastructure, it aims to bridge the gap between high-volume crypto payments and everyday financial transactions.
How to Start Exploring Bitcoin Payments
Curious about how Tether’s partnership with Speed might impact your financial activities? If you’re considering delving into the world of Bitcoin and stablecoin payments, check out the Trezor Model T hardware wallet. This secure, state-of-the-art device allows you to safely store Bitcoin, USDT, and more while seamlessly managing your transactions – enabling everyday people to join the cutting-edge financial revolution.
With Bitcoin currently trading at approximately $87,500, many experts believe a return to the $100,000 level is imminent, driven by increasing adoption of solutions like Speed’s Lightning-powered infrastructure. This partnership between Tether and Speed reaffirms the potential of cryptocurrency as a permanent fixture in our financial systems.
