Tether and Fasset Unveil First Gold-Backed Visa Card
- Tether commits $1 million in XAUT to launch a gold-backed Visa card with Fasset.
- The card offers up to 6% cashback in XAUT, targeting Fasset’s $32 billion annual volume user base.
- Tokenized gold market exceeds $5.3 billion, with XAUT accounting for over $2.6 billion.
- The card is accepted globally on the Visa network and converts XAUT to USDT and fiat at point of sale.
- Fasset processes $32 billion annually, with significant operations across Asia and Africa.
This collaboration between Tether and Fasset introduces a new way to use digital gold as a medium of exchange, providing users with cashback rewards in XAUT through everyday transactions on the Visa network.
With over $5.3 billion in tokenized gold market cap, this initiative positions XAUT as a practical tool for spending and saving, especially in emerging markets where currency volatility is common. (Source)
