Tether Launches Gold-Backed Visa Card With Up to 6% XAUT Cashback on June 3

XAUT-0.63%
Tether launched a gold-backed Visa card on June 3 in partnership with digital banking firm Fasset, allowing users to spend their Tether Gold (XAUT) holdings at any Visa merchant worldwide. The card instantly converts XAUT to USDT stablecoin and then to fiat currency at point-of-sale. Cardholders can earn up to 6% cashback paid in real-time in XAUT on eligible purchases, with an automatic round-up feature to invest spare change back into the token. Each XAUT represents one fine troy ounce of physical gold held in Swiss vaults and independently audited. XUAT currently has a market capitalization of approximately $2.7 billion.
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