Tether Leads $8 Million Investment in Speed Payment Platform to Promote USDT Use
Tether has spearheaded an $8 million funding round for Speed, an innovative payment platform, aimed at promoting the utilization of its cryptocurrency, USDT, in daily transactions. This investment marks a significant step in Tether's mission to integrate stablecoins into traditional payment systems, enhancing their practicality in global markets.
The funding was officially announced on December 16, further highlighting the ongoing collaboration between cryptocurrency and traditional commerce. Speed provides technology designed to facilitate instant and global monetary transactions, leveraging the unique advantages of stablecoins like USDT. This strategic move is expected to bolster the adoption of USDT by making it more accessible and practical for consumers and businesses alike.
Niraj Patel, the CEO of Speed, stated, "Crypto has lived in the world of speculation for too long," signaling a desire to shift the focus of cryptocurrencies away from mere trading. He elaborated, "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."
This collaboration illustrates a growing trend where cryptocurrency ventures actively seek to merge with payment solutions, positioning USDT as a viable alternative for everyday transactions. Through this investment, both Tether and Speed are poised to reshape the financial landscape, emphasizing the functional utility of cryptocurrency in standard payment scenarios.
This report is for informational purposes only and is not financial advice.