Tether has invested $8 million in the platform Speed to further promote its USDT stablecoin in everyday consumer payments. Speed integrates Bitcoin’s Lightning Network with Tether’s USDT, handling approximately $1.5 billion in annual payments and serving 1.2 million users. The Lightning Network is a second-layer solution on the Bitcoin blockchain that enables faster and lower-fee transactions, facilitating even the smallest payments efficiently. USDT is a stablecoin pegged to the US dollar and is widely used globally for digital payments and trading. Tether’s investment aims to strengthen Speed’s platform and expand USDT adoption among everyday users, enhancing digital currency acceptance. This initiative will provide consumers with faster and more secure payment options while increasing USDT’s utility within the cryptocurrency ecosystem. Although this investment marks a positive development for USDT and Speed, market volatility and regulatory challenges may pose risks in the future. Nonetheless, given the growing trend of digital payments, such efforts could significantly contribute to market growth.
Source: coindesk
