Tether announces FASE Foundation to combat fraud and expand aid

Tether has announced the launch of the Financial Access and Systemic Empowerment (FASE) Foundation, a Swiss-based not-for-profit organization. The initiative aims to address financial safety, inclusion, and access to essential resources, while also focusing on responsible artificial intelligence.

The foundation includes founding stakeholders such as Anchorage Digital, Bybit, Chainalysis, Payward, Opera, and the Solana Foundation. The United Nations Office on Drugs and Crime is serving as a strategic adviser.

FASE has set ambitious targets for its programs, stating that an education initiative could reach up to 10 million young people, while a humanitarian aid pilot could potentially serve up to 1 million people. The foundation seeks to address the tension between the global connectivity of digital assets and the scalability of crypto-related fraud.