Tether launches Swiss foundation to teach 10 million young people to spot crypto scams

Tether has launched a Swiss nonprofit, the FASE foundation, to fight online scams and support human trafficking survivors, aiming to reach 10 million young people. The October 28 announcement did not disclose a budget, timeline or individual contributions from its backers, including Bybit, Chainalysis and the Solana Foundation.

For the FASE foundation, the immediate challenge will be turning those commitments into operational programs. Its announcement sets out potential reach figures, but leaves its overall budget, individual stakeholder contributions and implementation timelines undisclosed.

FASE foundation brings crypto firms and UN advisers together

The founding stakeholder group includes Anchorage Digital, Bitfury, Bybit, Chainalysis, Fasanara Capital, Opera, Pave Bank, Prosper Global, the Solana Foundation and Tether. Tether’s announcement identifies Payward, described as Kraken’s partner company, among the participants.

The United Nations Office on Drugs and Crime will serve as a strategic partner and provide technical advice. Founding stakeholders are expected to help shape and deliver the programs, although their individual financial commitments have not been made public.

Before the launch, participants met in Lugano, Switzerland, to discuss priorities across the organization’s four focus areas: financial safety, financial freedom and inclusion, access to essential resources, and responsible artificial intelligence and robotics.

Tether CEO Paolo Ardoino framed the initiative around people underserved by existing financial institutions.

“For too long, the people who most need protection and support have been the ones most neglected by the traditional financial system,” said Paolo Ardoino, CEO of Tether.

His comments place financial protection alongside access: the initiative aims both to help people avoid harm and to improve their ability to obtain services and support.

Youth scam-prevention initiative targets 10 million people

One of the first programs will pair the FASE foundation with Goodwall, a certified B Corp and youth engagement platform, to deliver digital education and scam-prevention tools.

The proposed global youth alliance aims to reach up to 10 million young people, prioritizing Africa, Latin America and Southeast Asia. Its focus includes helping participants recognize online fraud, cryptocurrency investment scams and social engineering.

These are planned reach figures rather than confirmed participation numbers. The announcement did not provide a launch schedule, detailed curriculum or measures for assessing whether participants become better equipped to identify fraudulent approaches.

The education program gives the organization a preventive role alongside its planned assistance for people who have already experienced exploitation. Details of delivery and evaluation will be needed to establish how the initiative translates its broad targets into measurable results.

Stablecoin aid pilot and trafficking survivor support planned

The FASE foundation will also work with Prosper Global, formerly known as Mercy Corps, to explore using stablecoins in humanitarian assistance.

An initial pilot could reach up to 1 million people. However, the announcement did not identify participating countries, delivery organizations or a starting date, leaving the practical scope of the proposal unresolved.

Stablecoins are digital tokens designed to maintain a relatively stable value, commonly by tracking a currency such as the US dollar. Their usefulness in aid programs depends on recipients having access to digital wallets, connectivity, local payment services and ways to exchange tokens for goods or local currency.

Separately, the FASE foundation plans to support civil society organizations providing direct assistance and protection to human trafficking survivors, working with the United Nations Trust Fund for Victims of Human Trafficking.

It also intends to build on Tether’s existing cooperation with UNODC to expand cybercrime-prevention activities in Africa, Asia and Central America. Initial recipient organizations and funding allocations for survivor support have not been identified.

Funding questions remain as Tether builds on earlier work

Beyond its initial programs, the FASE foundation has outlined a wider remit covering financial inclusion, essential resources and responsible technology. The announcement does not establish when initiatives across all four areas will begin.

Tether’s earlier nonprofit contributions include two $100,000 grants to the BTCPay Server Foundation, announced in 2024 and 2025, and a $250,000 donation to OpenSats. The company has not said whether those contributions will form part of the new organization’s budget.

The FASE foundation announcement also follows separate Tether activities involving suspected illicit cryptocurrency funds and blockchain-based financial infrastructure. Those developments were not identified as foundation programs.

For now, the FASE foundation has established its partners and stated its ambitions. Its proposed reach of 10 million young people and up to 1 million humanitarian aid recipients remains conditional on implementation, with funding, schedules and delivery arrangements still to be disclosed.