Tether Partners with Fasset to Launch Gold-Backed Visa Card

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Gold-Backed Card Launch: Tether's collaboration with Fasset introduces the world's first gold-backed Visa card, enabling users to spend fiat at global merchants while earning nearly 6% cashback linked to Tether Gold ($XAUT), significantly enhancing the practical utility of digital gold.
Utility of Blockchain Assets: This partnership underscores the importance of integrating tokenized gold into daily financial operations and highlights the growing demand for innovative financial products aimed at connecting digital assets with real-world applications through advanced payment solutions.
Auto-Investment Feature: The card's auto-investment capability allows users to round up their spending amounts and automatically invest the spare change into digital gold ($XAUT), providing an effective means of value preservation while streamlining the payment experience.
Funding Commitment for Rewards Network: Tether has committed nearly $1 million in $XAUT to fund the card's rewards network, ensuring users can effortlessly accumulate digital gold during transactions, further promoting the accessibility and utility of digital assets on a global scale.

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Technical Analysis for XAUt

Technical Sentiment Analysis for Tether Gold (XAUt). As of , Tether Gold (XAUt) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XAUt stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XAUt is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Tether Gold (XAUt) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	4167.207	4267.104	4372.927	4472.824	4578.647	4678.544	4784.367
Fibonacci	4267.104	4345.689	4394.239	4472.824	4551.409	4599.959	4678.544

About XAUT

Tether Gold (XAU₮) is a stablecoin that provides ownership on a 1:1 basis of one fine troy ounce of gold on a physical bar of gold that meets the Good Delivery standard of the London Bullion Market Association (LBMA). This technology allows access to a stablecoin that provides ownership of physical gold while avoiding the drawbacks associated with physical gold, such as high storage cost and limited accessibility. Note: XAU₮ tokens can be fractionated up to six decimal places (i.e. in increments as small as 0.000001 troy fine ounce).

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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