Tether and Fasset Launch Gold-Backed Visa Card with XAU₮ Rewards

3 June 2026 – Tether, the largest company in the digital asset industry, today announced the launch of the world's first gold-backed neobanking Visa card in collaboration with Fasset, a digital banking and investment platform that allows users to receive money, invest, earn, and make payments from anywhere in the world. The move marks a step toward mainstream use cases for tokenized gold on a globally relatable scale.

The card will operate on the Visa network, letting users spend fiat at merchant stores worldwide where Visa is accepted while earning up to 6% cashback in XAU₮ on eligible transactions, which adds a reward layer tied to Tether's gold-backed assets. Users can spend their holdings in seconds by converting XAU₮ to USD₮ and then to fiat at the point of transaction. The card also features an automatic round-up function that auto-invests the spare change from every purchase in XAU₮, enabling passive gold accumulation through everyday spending. For anyone who ever felt guilty about buying coffee, this is your redemption arc.

Fasset brings together multi-currency accounts, fast transfers, instant settlements, a global debit card, and access to interest-free investments across crypto, stocks, funds, and commodities on its platform. With a presence across Asia and Africa, it also operates as one of the largest digital asset off-ramp providers in its region, keeping the USD₮-to-fiat conversion layer optimized for speed and reliability.

The initiative introduces a new global payment model that combines the accessibility of digital assets with the long-standing stability of gold. It reflects the next phase of gold-backed asset usage by embedding these assets into familiar financial experiences. The card will integrate directly with Fasset's wallet infrastructure, with XAU₮ cashback flowing into users' wallets in real time.

The market cap of tokenized digital gold is over $5.3 billion, with XAU₮ accounting for over $2.6 billion. Demand is growing for digital assets that offer investment opportunities, high liquidity, accessibility, and usability, especially in emerging markets where currency volatility remains a challenge. Tether continues to expand its reach by collaborating with platforms to meet these needs.

As part of the launch, Tether is committing up to $1 million in XAU₮ to power the card's rewards ecosystem and accelerate the real-world use of tokenized gold. A modest seed, but in crypto terms, a polite gesture.

"Historically, gold has been a store of value, not a medium of exchange. This initiative changes that narrative," said Paolo Ardoino, CEO of Tether. "By collaborating with systems that make digital assets practical and accessible globally, we are extending the utility of our ecosystem. 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."

Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, said: "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. This isn't just a card – it enables the adoption of digital gold at scale through Fasset's extensive distribution network."

Fasset's infrastructure and distribution in high-growth markets, combined with Tether's global liquidity and asset issuance capabilities, allow the collaboration to scale rapidly across regions where demand for stable, asset-backed financial tools is rising. Together, the companies are building a global infrastructure for asset-backed banking, connecting thousands of years of gold heritage with modern blockchain technology. Whether that means your latte finally buys you a fraction of a gram of gold is, perhaps, beside the point.

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