New gold-backed Visa card lets users earn 6% cashback

Popular integer assets institution Tether announced the motorboat of a gold-backed neobanking Visa paper successful collaboration with the digital banking and concern platform Fasset connected June 3.

Tether said the paper allows users to gain 6% cashback successful the signifier of its XAUT stablecoin.

Related: New study reveals golden has overtaken U.S. Treasuries

Understanding Tether's stablecoins

Tether is champion known for its stablecoin offerings specified arsenic XAUT and USDT, which are cryptocurrencies that support their worth stable, dissimilar volatile integer assets similar Bitcoin (BTC).

One XAUT token represents 1 troy good ounce of golden connected a London Good Delivery bar. It is disposable arsenic an ERC-20 token connected the Ethereum blockchain and arsenic a TRC20 token connected the TRON blockchain.

The allocated golden is identifiable with a unsocial serial number, purity, and value and is redeemable successful the signifier of carnal gold.

One USDT token holds the aforesaid worth arsenic 1 U.S. dollar. All USDT tokens are backed 100% by reserves, arsenic per Tether.

More connected Stablecoins:

• UN seasoned says stablecoins are fixing breached assistance payments

• Veteran plus manager issues stark informing for Tether, Circle

• Reliant president says stablecoins are inactive little than 5% of their transactions

Reward furniture astir Tether’s gold-backed assets

The paper volition run connected the Visa web and let users walk fiat astatine merchant stores wherever Visa cards are accepted, Tether said.

Users tin person XAUT to USDT and past to fiat currency astatine the constituent of transaction and earn up to 6% cashback successful XAUT connected eligible transactions, Tether revealed.

The paper volition besides diagnostic an automatic round-up relation that auto-invests the spare alteration from each transaction successful XAUT, the institution said.

"Through this initiative, we are connecting stablecoins and tokenized golden to real-world outgo systems, making them usable, accessible, and seamlessly integrated into planetary transactions," Tether CEO Paolo Ardoino said.

With the gold-backed Visa card, Tether is attempting to make a reward furniture astir its gold-backed assets.

The paper volition beryllium integrated straight with Fasset’s wallet infrastructure, with XAUT cashback flowing into users’ wallets successful existent time. Fasset's off-ramp work would guarantee that the USDT-to-fiat conversion furniture is optimized for velocity and reliability, arsenic per the statement.

Related: Explained: What is simply a stablecoin?

This communicative was primitively published by TheStreet connected Jun 4, 2026, wherever it archetypal appeared successful the MARKETS section. Add TheStreet arsenic a Preferred Source by clicking here.