Tether and ego death capital Bet $8M on Speed to Revolutionize Lightning Payments

Niraj and Jayneel Patel

Speed, a payment infrastructure provider built on Bitcoin’s Lightning Network, has secured $8 million in a funding round co-led by stablecoin giant Tether and Bitcoin-focused venture firm Ego Death Capital. The investment aims to accelerate Speed’s mission of merging the stability of the digital dollar (USDT) with the instant settlement capabilities of the Lightning Network.

Founded in 2021 by brothers Niraj and Jayneel Patel, Speed emerged from the duo's previous success with Orderhive, a global SaaS automation platform. Frustrated by the friction of traditional cross-border payments, the Patels pivoted to crypto infrastructure, seeking to solve the "slow and expensive" nature of real-world money movement. Their solution—a unified layer for Bitcoin and stablecoin payments—has since processed over $1.5 billion in annual volume for more than 1.2 million users.

"Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT," said Paolo Ardoino, CEO of Tether. "We back teams building practical infrastructure that reduces friction in payments and expands access to reliable settlement rails."

The platform's enterprise viability has already been tested by major brands, most notably Steak ’n Shake. The national restaurant chain reported a 50% reduction in processing fees and double-digit sales growth after integrating Speed’s Lightning-powered checkout system, proving the technology can handle high-volume retail environments.

The new capital will fuel Speed’s global expansion, enhance its Speed Merchant and Speed Wallet products, and support the development of a decentralized mini-app ecosystem. By bridging the gap between volatility and utility, Speed positions itself as a critical layer for the future of digital commerce.