Tether and Fasset to Launch First Gold-Backed Crypto Card
Tether is partnering with fintech firm Fasset to issue the world's first crypto card backed by physical gold, enabling users to spend digital gold in everyday transactions.
Tether, the company behind the USDT stablecoin, has announced a collaboration with digital asset infrastructure provider Fasset to introduce a gold-backed crypto card. According to the official release, this will be the first such card globally, offering a bridge between digital assets and real-world spending.
The card is designed to be backed by gold reserves, allowing holders to use their gold-pegged digital tokens for purchases at merchants that accept card payments. The initiative aims to unlock practical utility for tokenized gold, often referred to as digital gold, by enabling seamless conversion and spending without the need to sell the underlying asset first.
No specific launch date or supported regions have been disclosed in the announcement. The card is expected to target users looking to hold gold but also use it as a medium of exchange.
Source: MarketTwits