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Deep Tide TechFlow News, June 3rd, according to official sources, Tether announced a partnership with digital banking and investment platform Fasset to launch the world's first gold-backed Visa card.
Users can make fiat payments at global merchants via the Visa network and earn up to 6% XAU₮ cashback on qualifying transactions. The card also supports automatically investing the change of each purchase into XAU₮. During transactions, users can convert XAU₮ to USD₮ and then to fiat currency to complete the payment.
Tether stated that it will invest up to 1 million USD worth of XAU₮ to build the rewards system for this card.