Users of crypto lending platform Celsius Network can now purchase gold-backed stablecoin Tether Gold (XAUT), using credit and debit cards. 

Purchases with debit and credit cards have been made possible through a partnership with Simplex – with users also being able to buy the network’s native token, Celsius (CEL), Bitcoin (BTC), and Ether (ETH), with cards. 

The minimum purchase requirement for XAUT is just USD $50, and Celsius’ interest-bearing accounts are currently offering an annual interest rate of 4% on XAUT. 

Tether Gold is a currency pegged to real, physical gold, stored in vaults in Switzerland. Every XAUT token is representative of one ounce of real gold, and is issued on the Ethereum and Tron blockchains. 

A couple of weeks ago, we reported that German neobank Bitwala had partnered with Celsius Network to launch a Bitcoin (BTC) Interest Account product, offering users interest rates of up to 4.3%. 

AYO.NEWS says:

With the world facing an unprecedented economic crisis due to the COVID-19 lockdowns, investors are increasingly looking for safe haven assets, so Tether Gold, which combines the world’s oldest safe haven asset with the benefits of its newest, could well find plenty of demand – and Celsius Network just made acquiring it a whole lot more convenient.  

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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