Tether is widening its push beyond stablecoins after reporting $1.5 billion in Q2 2026 net operating profit, saying more than 650 million wallets now use its network and unveiling QVAC, an on-device AI platform aimed at emerging markets. The company said the technology is designed to keep working with weak connectivity and keep user data on phones rather than remote servers, with an initial product, QVAC Health, aggregating fitness, nutrition and biometric data under user control. CEO Paolo Ardoino has described USDT as a "digital dollar" for developing economies, and Tether's profits from reserves backing the token, largely U.S. Treasury holdings, are helping fund expansion into health, finance, sports and related investments such as Eight Sleep.