Tether, in collaboration with Fasset, has launched a Visa card that allows users to spend their Tether Gold (XAUT) holdings anywhere Visa is accepted. The card instantly converts XAUT to USDT and then to fiat at point-of-sale, aiming to transform gold from a store of value to a medium of exchange. Cardholders earn up to 6% cashback in XAUT on eligible purchases, with a round-up feature that automatically invests spare change into XAUT. Each XAUT token represents one fine troy ounce of physical gold stored in Swiss vaults, independently audited, with a market cap of about $2.7 billion. The launch follows gold's recent all-time high above $5,500 per ounce, currently trading around $4,414. This initiative bridges stablecoins and tokenized gold to real-world payment systems, reducing friction and borders in transactions.

Key facts

• Tether and Fasset launch a Visa card spending XAUT, converting to USDT then fiat.
• Cardholders earn up to 6% cashback paid instantly in XAUT.
• Round-up feature automatically invests spare change into XAUT.
• Each XAUT token is backed by one troy ounce of gold in Swiss vaults.
• Market cap of XAUT stands at approximately $2.7 billion.