Tether, the issuer of $USDT stablecoin, has partnered with Fasset to launch the world’s first gold-backed neobanking Visa card. This launch will bring new real-world utility to tokenized gold. This card will enable users to spend digital assets globally while earning rewards in Tether Gold (XAU₮). The required infrastructure for this card will be provided by Fasset, a digital banking platform. Tether announced this move in its official tweet. According to the announcement, the card will operate on the Visa network, allowing users to make purchases at merchants worldwide where Visa cards are accepted.
Tether Collaborates with Fasset to Launch the First Gold-Backed Card, Unlocking Real-World Utility for Digital Gold
Learn more: https://t.co/Qdp5GxGQhk— Tether (@tether) June 3, 2026
Card Offers XAU₮ Cashback and Automated Gold Accumulation
The new card by Tether has multiple features and use cases. Primarily, a rewards system that allows users to earn up to 6% cashback in XAU₮ on eligible purchases. The earned rewards will be deposited directly into users’ Fasset wallets in real time. Moreover, users will be able to convert XAU₮ into USD₮ and subsequently into fiat currency at the point of sale.
Another notable feature of the card is its automatic round-up functionality. The tool rounds up purchase amounts and invests the spare change into XAU₮. This way, it allows users to accumulate gold passively over time through regular transactions.
The partnership comes at a time when the demand for asset-backed digital products continues to grow. Particularly in emerging markets where currency volatility often drives interest in alternative stores of value.
Paolo Ardoino Highlights Vision for Everyday Use of Tokenized Gold
As per Tether, the tokenized gold market currently exceeds $5.3 billion in capitalization, with XAU₮ accounting for more than $2.6 billion of that total. To support adoption, the company is committing up to $1 million worth of XAU₮ to fund the card’s rewards ecosystem.
Paolo Ardoino, CEO of Tether, said the initiative seeks to transform gold from a traditional store of value into a practical medium for daily financial activity. He added that the collaboration connects stablecoins and tokenized gold with global payment systems, enabling users to hold and utilize gold-backed assets easily.
The collaboration combines Tether’s global liquidity and token issuance capabilities with Fasset’s regional presence and payment infrastructure. By linking tokenized gold with a globally accepted payment network, the initiative seeks to bridge traditional stores of value and modern blockchain-based financial services.