Tether partners with Fasset to let users spend and earn tokenized gold via Visa network

Tether has partnered with Fasset to introduce the first gold-backed Visa card, creating a new way for users to spend, save, and earn through tokenized gold, according to a Wednesday statement.

Cardholders can make purchases globally wherever Visa is accepted, receive up to 6% cashback in XAUT on eligible transactions, and automatically invest transaction round-ups into gold through an integrated savings feature, Tether stated.

The card is supported by Fasset’s financial platform, which offers digital banking services, multi-currency accounts, instant settlements, and access to investments across crypto, stocks, funds, and commodities. Fasset’s established footprint in Asia and Africa, combined with its large-scale digital asset off-ramp network, helps deliver fast and reliable fiat conversion.

This launch advances the practical use of gold-backed digital assets by embedding them into familiar payment experiences. Through direct integration with Fasset wallets, users receive XAUT rewards in real time while maintaining seamless access to their digital assets, according to Tether.

“Historically, gold has been a store of value, not a medium of exchange. This initiative changes that narrative,” Tether CEO Paolo Ardoino commented on the move. “Through this initiative, we are connecting stablecoins and tokenized gold to real-world payment systems, making them usable, accessible, and seamlessly integrated into global transactions, giving users the option to hold gold and invest it however they choose, without friction or borders.”

The broader tokenized gold sector has surpassed $5.3 billion in market capitalization, with XAUT accounting for more than $2.6 billion. As demand rises for stable and accessible financial products, particularly in regions facing currency volatility, Tether is allocating up to $1 million in XAUT to strengthen the rewards ecosystem and encourage adoption.

“For over a thousand years, gold has been the most trusted store of wealth across our markets. We’re bringing it into the digital age. With $32 billion in annualized volume (95% in real-world assets) and the world’s first gold-backed neobanking card, Fasset is building the infrastructure to make Tether Gold the most widely held digital gold token in emerging markets,” Fasset CEO Mohammad Raafi Hossain stated.