The latest reports reveal that Celsius Network users can now buy Tether Gold using their credit and debit cards with a minimum purchase amount of $50. Celsius is now expanding its partnership with Simplex, a fiat-to-crypto payments provider. Through that partnership, users can now use their cards to buy Tether Gold.
The major lending startup now lets its users acquire gold-backed stablecoin Tether Gold (XAUT) using their cards. On May 28, Celsius confirmed the news setting the minimum purchase amount for XAUT at $50. The yearly interest rate will account for about 4%.
XAUT Was Introduced On Celsius in May
The new partnership with Simplex unlocks credit and debit card transactions for its native token, Celsius (CEL), alongside Tether Gold. Through this program, the Celsius users can get interested in CEL on 25 cryptos at a rate of up to 30%.
That new feature comes shortly after Celsius listed Tether Gold on its mobile app. Celsius rolled out XAUT on May 5 for depositing on its app. Users can now earn 3% of the annual percentage yield. Celsius is one of the few global entities that are known to offer users to earn interest on Tether Gold deposits through credit and debit card purchases.
Celsius Users Can Buy ETH and BTC With Their Cards
CEL and Tether Gold are not the only virtual currencies that can be acquired using debit and credit cards on the Celsius network. Celsius launched in-app crypto purchases in February 2020 through a partnership with Simplex. Through that partnership, Ether (ETH) and Bitcoin (BTC) could be purchased using credit and debit cards.
The feature supports credit card issuers like MasterCard and Visa similarly to several other Simplex integrations with major crypto firms, including Huobi and Binance. Tether launched Tether Gold as one of the stablecoins along with the highly controversial stablecoin USDT. Tether Gold is a gold-backed stablecoin that was launched in January 2020. It was subsequently listed by Tether’s affiliate exchange Bitfinex. Two months later, Bitfinex introduced Tether Gold for futures trading.