Tether and Fasset’s gold backed card offers 6% XAU₮ cashback

Tether and Fasset are pushing gold backed card payments into the mainstream with a new Visa product that links tokenized gold to everyday spending.

A Visa card built around tokenized gold

The companies say the card works on the Visa network and lets users spend USD at merchant stores worldwide that accept Visa cards. Moreover, eligible transactions can earn up to 6% cashback in XAU₮, supported by a tiered rewards structure that grows with spending.

An automatic round-up feature also converts each purchase to the nearest dollar and invests the spare change in XAU₮. That design aims to turn routine shopping into continuous gold accumulation without adding friction for users.

How Fasset’s platform fits in

Fasset says its platform combines multi-currency accounts, fast transfers, instant settlements, a global debit card, and access to interest-free investment options across crypto, stocks, funds, commodities, and more. However, it also operates as a digital asset off-ramp provider in its region, improving the USD₮ to fiat conversion layer for speed and reliability.

The new card will plug into Fasset’s wallet infrastructure, with XAU₮ cashback flowing into users’ wallets in real time. In practice, that setup ties tokenized gold payments to a broader financial stack built for cross-border use.

Why Tether is betting on gold

Tether says stablecoin usage is spreading into payments, remittances, savings, and value preservation. Moreover, it says stablecoin circulation exceeds $300 billion, USD₮ has a market cap above $186 billion, and annual transaction volumes surpass $33 trillion.

The company says demand is rising for tools that combine usability with stability, especially in emerging markets facing currency volatility. That is where the gold backed card is meant to stand out, since it blends digital asset access with the perceived steadiness of gold.

As part of the launch, Tether will commit up to $1 million in Tether Gold (XAU₮) to support the rewards ecosystem. The funding is designed to accelerate distribution and real-world use of tokenized gold at scale.

What the partners say

Tether describes the collaboration as a bridge between stablecoins, tokenized gold, and real-world payment systems. Fasset, meanwhile, says gold has long been a trusted store of value and is now moving into the digital age through its distribution network in emerging markets.

In that context, the card is positioned as a tool for wider adoption of digital gold, while keeping spending simple for users who want to hold gold and use it without borders. The result is a new payment model that joins savings and commerce in one flow.

Ultimately, the launch signals a broader push to make tokenized gold more usable in daily finance. If adoption grows, the card could become an early test case for tokenized gold payments at scale.