Tether deepens partnership with INHOPE to fight online child abuse
Global partnerships harness blockchain transparency to crack down on financial networks supporting online child abuse and safeguard vulnerable communities.
Key Takeaways
- Tether and INHOPE are ramping up blockchain use to combat online child exploitation.
- The partnership enhances transparency in financial transactions and helps disrupt illicit activity linked to child sexual abuse material.
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Tether has expanded its collaboration with INHOPE, the global network of hotlines dedicated to combating Child Sexual Abuse Material (CSAM) on the internet, to strengthen efforts against online child exploitation through blockchain technology, according to a Wednesday announcement.
INHOPE runs 57 hotlines in 52 countries, enabling anonymous reports of illegal online content, especially CSAM. Its network spans the EU, Russia, South Africa, the Americas, Asia, Australia, and New Zealand.
Since 2023, Tether, issuer of the world’s most widely used stablecoin, USDT, has maintained a strategic partnership with INHOPE to prevent the misuse of digital assets in relation to CSAM.
The company has deployed advanced monitoring tools and safety protocols to detect and disrupt illicit transactions associated with this abuse.
According to Tether CEO Paolo Ardoino, blockchain is a powerful tool that can help prevent illicit activities like money laundering, fraud, and terrorism financing.
“By expanding this initiative, we reinforce our commitment to responsible innovation and safeguarding the integrity of digital assets, ensuring financial platforms are not misused by bad actors and setting new standards for protecting vulnerable communities,” said Ardoino in a statement.
Collaboration facilitates coordination between exchanges, hotlines, and law enforcement agencies around the world to combat financial platform exploitation.
“We are grateful to Tether for deepening this partnership and recognizing the vital role the cryptocurrency industry plays in the fight against CSAM. Cross-sector collaboration is essential to dismantling criminal networks and protecting children,” said Samantha Woolfe, Head of Global Partnerships and Network Expansion at INHOPE.
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