Paolo Ardoino, chief executive of Tether, addressed the Plan ₿ Forum in Lugano on October 23‑24, 2026. In a keynote titled “Tether – A Psychohistory Implementation,” he likened the company’s role to the Foundation in Isaac Asimov’s science‑fiction series, describing Tether as a seed of light intended to endure future societal challenges.
Open‑source infrastructure and AI initiative
Ardoino outlined an open‑source technology plan aimed at expanding financial inclusion and reducing reliance on centralized finance. He cited initiatives such as open‑source protocols, self‑custodial wallets, and community‑built tools. The presentation also introduced QVAC, a local artificial‑intelligence platform that runs on users’ devices rather than remote data centers.
Financial performance and reserves
Tether reported a net operating profit of $1.5 billion for the third quarter of 2026 and disclosed excess reserves of nearly $8 billion. The company said these resources enable funding of AI platforms, wallet development, open‑source projects and multi‑year partnerships.
Partnership with Lugano
The forum highlighted a memorandum of understanding between Tether and the City of Lugano, extending their collaboration to 2030. The agreement focuses on infrastructure, education and applied research. Lugano officials noted growing merchant acceptance of Bitcoin and exploratory discussions on using Bitcoin for municipal treasury allocations.
Strategic shift
Ardoino emphasized that Tether seeks to be recognized as an infrastructure builder rather than solely a stablecoin issuer. While the company promotes decentralization and resilience, it remains a centralized entity that issues USDT and holds substantial reserves.
