Speed Raises $8 Million to Expand Bitcoin and Stablecoin Payment Solutions

Speed raised $8 million to accelerate the growth of its payments solutions built on the Bitcoin Lightning Network.

The company will use the new funding to build capacity, expand to new regions, develop more merchant tools, enable cross-border and creator payouts, and maintain reliability and compliance, it said in a Tuesday (Dec. 16) blog post.

Speed’s offerings include a global payment layer called Speed Merchant that is designed for merchants, platforms and payment systems and enables them to accept both Bitcoin and stablecoins, according to the post.

The company also offers a Lightning wallet called Speed Wallet that serves individuals and businesses and enables Bitcoin and stablecoin transfers, supports global payouts, offers local on- and off-ramps, and powers USDT transactions, the post said.

“We’ve always believed that Bitcoin and stablecoins can power everyday payments,” Speed CEO Niraj Patel said in the post. “That requires real infrastructure—fast, compliant and scalable. This investment validates that belief and accelerates our mission.”

Speed co-founder Jayneel Patel said in the post that the company aims to “solve real problems with technology.”

“Speed started as a merchant solution and has grown into a global payment network,” Jayneel Patel said, adding the company is “ready to take the next leap.”

Stablecoin issuer Tether and venture fund ego death capital co-led the funding round, per the post.

Tether said in a Tuesday press release that its investment supports its strategy to support Bitcoin-aligned financial infrastructure and expand the utility of its USDT stablecoin in real-world payment environments.

“We support teams building practical infrastructure that reduces friction in payments and expands access to reliable settlement rails,” Tether CEO Paolo Ardoino said in the release.

Tether’s USDT stablecoin is the most traded cryptocurrency by volume around the world.

Adam Gebner, associate at ego death capital, said in a Tuesday blog post that Speed processed over $1.5 billion in payment volume over the past 12 months and serves more than 1.2 million users.

“By bridging Lightning and stablecoins in a single, compliant platform, Speed is positioning itself as foundational infrastructure for the Bitcoin and stablecoin economy, serving merchants, platforms and users across both developed and emerging markets,” Gebner said in the post.