Tether and Fasset Launch World’s First Gold-Backed Visa Card

Highlights:

• Tether and Fasset have partnered to roll out the first gold-backed visa card for cross-border payments.
• The stablecoin issuer said users will earn cashback in Tether Gold for using the new payment system.
• Fasset will integrate the new Visa card into its wallet system, making it easier for users to access rewards in real time. 

Stablecoin issuer Tether and digital finance platform Fasset have launched the world’s first gold-backed neobanking Visa card. Tether announced the new rollout in a press release on Wednesday, stating that the card allows users to spend money from any part of the world that accepts Visa as a payment option. At the same time, users will earn cashback rewards in Tether Gold (XAUT). 

Tether reported that users can receive up to 6% cashback in tokenized gold on qualifying purchases. The new payment system works by converting XAUT into USDT and then into local fiat currency. This allows users to spend their digital assets almost instantly at stores and online merchants.

A major feature of the card is an automatic round-up function. Whenever users make purchases, the extra change from each payment can be automatically invested into XAUT. With this, users can slowly build gold savings through daily spending.

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

Fasset to Play Key Roles in Tether’s New Payment System

Fasset said it will connect the new Visa card directly to its wallet system. This means cashback rewards in XAUT will appear in users’ wallets in real time. The company already offers services like multi-currency accounts, fast money transfers, instant settlements, and access to investments in crypto, stocks, commodities, and funds. It also provides a debit card service and operates across many regions, including Asia and Africa.

Fasset emphasized that its partnership with Tether focuses on bringing gold-backed digital assets into everyday use rather than limiting them to long-term investing or savings. Overall, the goal is to make tokenized gold easier to use in normal financial activities such as shopping and payments. 

🚨TETHER LAUNCHES GOLD-BACKED VISA CARD

Tether and Fasset launched a Visa card that lets users spend globally while earning up to 6% cashback in XAU₮.

The card converts XAU₮ to USD₮ to fiat at checkout and auto-invests spare change into tokenized gold. pic.twitter.com/W8kWiU6iD9

— Coin Bureau (@coinbureau) June 3, 2026

Tether and Fasset Partnership Aims to Capitalize on the Rising Tokenized Gold Market

The tokenized gold market is currently worth over $5.3 billion. Out of this massive valuation, Tether Gold alone accounts for over $2.6 billion. Tether believes demand for gold-backed digital assets has risen significantly, especially in countries where local currencies can lose value quickly. The stablecoin issuer says many users are looking for assets that are stable, easy to access, and simple to move. 

To support the launch, Tether said it will commit up to $1 million in XAUT to fund the cashback rewards and help grow the use of tokenized gold in real-world payments. Tether Chief Executive Officer (CEO) Paolo Ardoino said gold has traditionally been seen as a sustainable store of value. However, its latest payment system will change this perception.

The CEO added:

“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.” 

Fasset Co-Founder and Chief Executive Officer (CEO), Mohammad Raafi Hossain, also spoke about the partnership. He noted that gold has remained one of the most trusted forms of wealth in many regions, and his company wants to make it easier for users to assess the asset through its digital finance tools. According to him, Fasset has processed roughly $32 billion in annualized transaction volume. “This isn’t just a card – it enables the adoption of digital gold at scale through Fasset’s extensive distribution network,” Hossain added.