Visa Partners with Tether on Gold Stablecoin Card with 6% Cashback
V•Visa, Tether and Fasset have launched a card that lets users spend Tether Gold (XAUT) anywhere Visa is accepted by converting XAUT to USDT and then to fiat at checkout. Users earn 6% XAUT cashback and can round up purchases into additional XAUT.
1. Collaboration Launch
Visa has partnered with stablecoin issuer Tether and digital banking firm Fasset to introduce a gold-backed payment card. The card enables holders to spend Tether Gold (XAUT) anywhere Visa is accepted by automatically converting XAUT to Tether’s dollar-backed USDT and then to local fiat currency at the point-of-sale.
2. Rewards and Round-Up Features
Cardholders receive up to 6% cashback paid instantly in XAUT on eligible purchases, providing real-time digital-gold rewards. An optional round-up feature invests spare change from everyday transactions into additional XAUT, promoting incremental growth of users’ gold holdings.
3. XAUT Token Context
Each XAUT token represents one fine troy ounce of physical gold stored in audited Swiss vaults, and the token has expanded from Ethereum to BNB Chain, boasting a market cap near $2.7 billion. Gold prices reached highs above $5,500 per ounce earlier this year, trading around $4,414 at the time of launch.
