Tether and Fasset launch a Visa card offering up to 6% cashback in XAUT, bringing tokenized gold into everyday payments.
Crypto News
Tether is bringing its gold-backed token XAUT into everyday payments through a new Visa card launched with digital banking and investment platform Fasset.
The card will allow users to spend fiat anywhere Visa is accepted while earning up to 6% cashback in XAUT on eligible transactions. It will also support conversions from XAUT and USDT into fiat at the point of sale.
Source: Tether
Tether said the card includes an automatic round-up feature that invests spare change from transactions into XAUT, creating a way for users to accumulate tokenized gold through regular spending.
Tokenized Gold Expands Into Payments
XAUT represents one fine troy ounce of gold on a London Good Delivery bar. The token has a market cap of about $2.6 billion, while the broader tokenized gold market is valued at more than $5.3 billion.
Source: CoinMarketCap
Tether said Tether Gold holds about 24 tons of gold backing XAUT in reserves. The company is also committing up to $1 million in XAUT to support the card’s rewards ecosystem.
The card will be integrated with Fasset’s wallet infrastructure, with XAUT cashback flowing into users’ wallets in real time. Fasset operates across Asia and Africa and describes itself as one of the largest digital asset off-ramp providers in those regions.
Source: Fasset
Tether CEO Paolo Ardoino said the initiative connects stablecoins and tokenized gold to real-world payment systems.
“Historically, gold has been a store of value, not a medium of exchange. This initiative changes that narrative,” Ardoino said.
Fasset CEO Mohammad Raafi Hossain said the company aims to make Tether Gold more widely held in emerging markets, where demand for asset-backed financial tools is growing.
Related Article: Tether Gold Hits $3.3B as Bullion-Backed Token Demand Climbs
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