Tether Forms FASE Foundation to Pilot Stablecoin Aid for Up to 1 Million People

Tether announced Wednesday that it formed a Swiss nonprofit with crypto industry partners to test stablecoin-based aid, with an initial pilot designed to reach up to 1 million people.

The foundation, Financial Access and Systemic Empowerment (FASE), will run the pilot with Prosper Global, formerly Mercy Corps. Its initial programs also include scam-prevention education for as many as 10 million young people through a partnership with Goodwall.

FASE’s founding members include Kraken, Bybit, Chainalysis, Anchorage Digital and Solana Foundation. The United Nations Office on Drugs and Crime (UNODC) is a strategic partner.

The foundation focuses on financial safety, financial inclusion, access to resources, and responsible artificial intelligence and robotics.

Separately, Circle Foundation has explored stablecoin payments for humanitarian aid and provided funding to the United Nations Development Programme and the World Food Programme.