Speed funding just made major headlines after raising $8 million from crypto heavyweights Tether and Ego Death Capital. The India-based fintech startup plans to use the investment to accelerate Lightning-powered Bitcoin and stablecoin payments worldwide.
This move signals a strong vote of confidence in the potential of Bitcoin’s Lightning Network to deliver fast, low-cost, real-world crypto transactions that rival traditional payment systems.
What Is Speed?
Founded by Indian entrepreneurs Niraj (Raj) Patel and Jay Patel, Speed is building a next-gen payment infrastructure using the Bitcoin Lightning Network. Its platform enables instant Bitcoin and stablecoin transactions for businesses, creators, and individuals helping crypto move from speculation to utility.
The Lightning Network acts as a layer-2 protocol on Bitcoin, processing payments almost instantly and at a fraction of traditional network costs. This makes it ideal for global microtransactions, merchant payments, and digital commerce.
Inside the $8 Million Speed Funding Round
The recent Speed funding round was led by Tether issuer of the world’s largest stablecoin USDT and Ego Death Capital, a fund dedicated to Bitcoin-centric innovation. Together, they’re helping Speed expand globally and build scalable payment products that bridge the gap between Bitcoin and traditional finance.
The investment reflects a growing industry trend: blockchain startups focused on practical crypto adoption rather than speculative trading are gaining serious traction.
How Speed Is Transforming Bitcoin Payments
- Speed Merchant: A suite of APIs that allow businesses to accept Bitcoin and stablecoin payments with instant settlement and minimal fees.
- Speed Wallet: A Lightning-enabled wallet designed for seamless crypto transactions worldwide.
According to the company, Speed has already processed billions of dollars in payments and supports over 1.2 million users. Real-world adoption is also growing, with restaurant chain Steak ’n Shake among early enterprise adopters using Speed’s Lightning payment solutions.
Founders’ Vision for the Future
CEO Niraj Patel stated that Bitcoin and stablecoins have remained largely speculative. Speed’s goal is to make them practical tools for global commerce, especially for emerging markets and online creators. Lightning ensures transaction speed, while stablecoins provide the price stability necessary for mainstream adoption.
What’s Next for Speed
With the latest Speed funding, the startup plans to:
- Expand its global payment infrastructure
- Enhance enterprise-grade compliance and security
- Support developers building Lightning-based applications
- Increase merchant and creator adoption worldwide
These efforts aim to create a truly global crypto payments ecosystem fast, secure, and accessible for all.
Why This Matters for India and Global Crypto
This round not only validates India’s position in the global fintech landscape but also emphasizes the country’s growing role in blockchain innovation. For the broader crypto ecosystem, it showcases how Speed funding and similar ventures are paving the way for crypto to become a mainstream payment medium rather than a niche investment vehicle.
As blockchain infrastructure matures, the lines between digital assets and everyday money may continue to blur and companies like Speed are leading that transformation.
Final Thoughts
The Speed funding round marks a major step forward for the Lightning Network and crypto payments. With Tether’s backing and a clear focus on usability, Speed is positioning itself as a global leader in next-generation payments built on top of Bitcoin’s most powerful innovation yet.
Stay tuned to GeeksGrow for more updates on blockchain startups and fintech innovations shaping the future of money.
