Tether Launches Gold-Backed Stablecoin Visa Card with Cashback in Digital Gold
- Tether has introduced a new Visa card in collaboration with Fasset, enabling users to spend from their Tether Gold (XAUT) balance.
- The card converts XAUT to USDT and then to fiat currency at the point-of-sale.
- Cardholders can earn up to 6% cashback in XAUT on eligible purchases, with real-time payouts.
- Each XAUT token represents one fine troy ounce of physical gold stored in Swiss vaults and is independently audited.
- XAUT tokens have expanded from Ethereum to BNB Chain, with a market cap of approximately $2.7 billion.
This initiative by Tether aims to transform gold from a mere store of value into a medium of exchange, integrating it into global payment systems seamlessly. The card offers users the flexibility to hold and invest their digital gold holdings without borders or friction.
With gold prices reaching historic highs earlier this year, Tether’s new card provides an innovative way for users to leverage their gold-backed assets for everyday transactions while earning rewards in digital gold. (Source)
