Tether Launches Tokenized Gold Visa Card Offering Crypto Rewards
Tether introduces a new Visa card backed by its gold-backed stablecoin, XAUT, in collaboration with Fasset. Users can earn cashback in tokenized gold for purchases made with the card, which operates by converting XAUT to USDT before completing transactions, according to Decrypt.
Tether has launched a gold-backed stablecoin Visa card, developed in partnership with digital banking firm Fasset. This card allows holders to utilize their Tether Gold (XAUT) holdings for purchases anywhere Visa is accepted, transforming how gold is perceived in transactions.
The mechanism involves the card converting users' XAUT into Tether’s dollar-pegged stablecoin, USDT, before converting it to fiat for the transaction. Cardholders can earn up to 6% cashback on eligible purchases, paid immediately in XAUT, enhancing its utility as a medium of exchange rather than merely a store of value.
“Historically, gold has been a store of value, not a medium of exchange,” said Tether CEO Paolo Ardoino. He emphasized that this initiative shifts that narrative, aiming to integrate stablecoins and tokenized assets into real-world payment systems.
Each XAUT token represents one troy ounce of physical gold stored in Swiss vaults, independently audited for security. The service also features a round-up option for purchases, allowing users to invest spare change back into XAUT automatically. Tether’s XAUT stablecoin has a market cap of approximately $2.7 billion, further indicating its growing acceptance and implementation beyond just cryptocurrency ecosystems.
As interest in cryptocurrency continues to expand, the real-world applications of tokenized assets, including gold, may offer investors and consumers new avenues for financial interaction. The integration of such services could signal a broader acceptance of digital currencies in traditional financial settings, warranting close attention to how this model performs in competitive markets.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 3, 2026. SolanaWire does not republish source content.
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