In brief
- Tether is launching a new gold-backed stablecoin card in collaboration with Fasset that pays cashback rewards in digital gold.
- The card spends from a user’s XAUT balance, Tether’s gold-backed stablecoin, and instantly converts it to USDT and then fiat.
- Cardholders can earn cash back paid immediately in the firm’s version of tokenized gold, XAUT.
Leading stablecoin issuer Tether is looking to flip the script on gold’s store-of-value framing, making its tokenized version of the commodity the key medium of exchange for a new Visa card.
Made in collaboration with digital banking firm Fasset, the card will allow users to spend their Tether Gold (XAUT) holdings anywhere Visa is accepted worldwide.
“Historically, gold has been…
