Tether Unlocks Tokenized Gold for Everyday Spending
Tether and Fasset have launched a new Visa card that rewards users for everyday spending. The XAUT Rewards Visa Card allows users to spend fiat anywhere Visa is accepted, while earning up to 6% cashback in tokenized gold.
The card is integrated with Fasset's wallet infrastructure, meaning XAUT cashback flows directly into users' wallets in real time. Tether Gold holds about 24 tons of gold backing XAUT in reserves, and the company has committed up to $1 million in XAUT to support the card's rewards ecosystem.
This initiative marks a significant step towards bringing tokenized gold into mainstream payments, according to Paolo Ardoino, CEO of Tether. 'Historically, gold has been a store of value, not a medium of exchange. This initiative changes that narrative.'