Tether · Tokenization · Decrypt
Tether Publishes Tokenized Gold Stablecoin Visa Card That Pays Out Crypto Rewards
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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.
Key facts
- Gold reached a new all-time high price earlier this year, eclipsing $5,000 before ultimately reaching above $5,500 per ounce
- XAUT currently has a market cap of around $2.7 billion
- Spenders can earn up to 6% cashback, paid in real-time in XAUT on eligible purchases
- 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
Summary
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. 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.