Tether Launches World's First Gold-Backed Visa Card, Offering XAUT Rewards for Purchases

BlockBeats News, June 3rd, Tether partnered with Fasset to launch the world's first gold-backed Visa debit card. Users can spend fiat at global Visa merchants and receive up to 6% cashback in the gold-backed token XAUT on eligible transactions. The card supports real-time conversion of XAUT to USDT and then to fiat, as well as automatic rounding up of transactions to invest the spare change in the gold-backed token XAUT, enabling passive gold accumulation in everyday spending.

Tether has committed to allocate up to $1 million worth of XAUT to reward the ecosystem, promoting the adoption of tokenized gold in emerging markets. The total market value of tokenized gold now exceeds $5.3 billion, with XAUT accounting for over $2.6 billion.