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Key Takeaways
- Tether led an $8 million funding spherical for Speed1, Inc., supporting Bitcoin Lightning Community and stablecoin fee infrastructure.
- Velocity allows over $1.5 billion in annual fee quantity with instantaneous BTC and USDT settlement for customers and retailers.
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Tether introduced Tuesday that the corporate had made a strategic funding in Velocity, a funds infrastructure supplier leveraging the Bitcoin Lightning Community and stablecoins for immediate settlement.
Tether led Velocity’s $8 million funding spherical alongside ego demise capital, supporting a platform that already processes greater than $1.5 billion in annual fee quantity.
Velocity’s merchandise serve over 1 million customers and companies, providing instantaneous funds with native BTC and USDT settlements throughout customers, creators, platforms, and enterprise retailers.
“Velocity is displaying what Lightning can obtain when paired with a secure, liquid digital greenback like USDT,” mentioned Tether CEO Paolo Ardoino. “We help groups constructing sensible infrastructure that reduces friction in funds and expands entry to dependable settlement rails. Velocity’s execution and adoption sign that Bitcoin-rooted networks are prepared for mainstream commerce.”
“Crypto has lived on the earth of hypothesis for too lengthy. Velocity is making it usable – immediately, globally, and at scale. Lightning offers us pace; stablecoins give us common entry; our infrastructure brings all of it collectively for customers, creators, and retailers,” mentioned Niraj Patel, CEO of Speed1, Inc.
The funding displays Tether’s dedication to increasing the Bitcoin-aligned infrastructure and rising USDT’s utility past buying and selling, positioning Lightning-based networks as viable settlement rails for world commerce.
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