- Tether is launching a Visa card that rewards users with gold-backed XAUT tokens.
- Eligible purchases can earn up to 6% cashback in tokenized gold.
- The card automatically converts USDT and XAUT into fiat for spending.
- Spare change from purchases can be invested into XAUT through automatic roundups.
- Tether aims to connect tokenized assets with everyday payment networks.
Tether brings tokenized gold to payments
Tether announced a new Visa card that allows users to spend digital assets while earning rewards in XAUT, the company's gold-backed token.
The card will operate globally anywhere Visa is accepted and is being launched in partnership with fintech firm Fasset.
Rewards paid in tokenized gold
Users will be eligible to receive up to 6% cashback in XAUT on qualifying purchases.
In addition, the card includes an automatic roundup feature that converts spare change from transactions into additional XAUT holdings, allowing users to gradually accumulate exposure to tokenized gold.
Crypto converted seamlessly at checkout
The card supports automatic conversion of both USDT and XAUT into fiat currency when making purchases.
This allows users to spend crypto assets without requiring merchants to directly accept digital currencies.
Expanding real-world crypto utility
Tether CEO Paolo Ardoino said the initiative is designed to bridge stablecoins, tokenized commodities, and traditional payment systems.
XAUT currently represents one troy ounce of physical gold stored in reserves and has grown into one of the largest tokenized commodity products in the crypto market, backed by roughly 24 tons of gold.
