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Wu learned that Tether announced a partnership with digital banking and investment platform Fasset to launch a gold-backed Visa card, allowing users to spend fiat currency at Visa-supported merchants. The card supports converting XAU₮ to USD₮ during transactions and then to fiat currency, and offers an automatic rounding feature that automatically invests the change from each transaction into XAU₮. Tether stated that the market value of tokenized digital gold exceeds $5.3 billion, with XAU₮ accounting for over $2.6 billion.