Tether and digital banking platform Fasset have launched what they call the world’s first gold-backed Visa card. The card lets users spend fiat at any Visa-accepting merchant and earn up to 6% cashback in XAU₮, Tether’s gold-backed token.
The card runs on Visa’s network. At checkout, Fasset’s system converts XAU₮ to USDT and then to fiat in real time. The card also rounds up purchases and invests the spare change into XAU₮.
The launch links tokenized gold to everyday payments. It also gives users an automatic way to accumulate XAU₮ through routine spending. XAU₮ cashback reaches users’ wallets in real time. Fasset said the card connects directly with its wallet infrastructure to support the payment flow.
The card aims to make gold more useful as a payment-linked asset. It also places gold beside stablecoins inside a consumer spending product.
Fasset operates across Asia and Africa as a digital banking and investment platform. It said it processes $32 billion in annualized volume. The company said 95% of that volume comes from real-world assets. It also described itself as one of the largest digital asset off-ramp providers in its region.
Tether said it will commit up to $1 million in XAU₮ to seed the card’s rewards ecosystem at launch. That support will help fund the cashback program.
One XAU₮ token represents one troy fine ounce of gold on a London Good Delivery bar. The token can be traded, moved, and redeemed for physical gold. The source said the total market cap of tokenized gold now exceeds $5.3 billion. It also said XAU₮ accounts for more than $2.6 billion of that total.
The launch arrives during stronger attention on crypto payment products. The report also linked the move to broader developments, including CME Group’s shift toward 24/7 crypto futures trading. It further noted rising regulatory focus on crypto payments. It referred to the U.S. Strategic Bitcoin Reserve blueprint due later this year.
Read More: Tether Buys SoftBank’s Full 21 Capital Stake in Bitcoin Deal
Fasset may first focus on emerging markets, where gold and stablecoins already attract strong demand. Currency volatility and limited access to traditional gold channels shape that demand. Visa’s involvement gives the card access to millions of merchants worldwide. That places the product inside established payment rails while connecting it to tokenized gold.
TG Commodities Limited offers Tether Gold (XAU₮). The token’s allocated gold carries a unique serial number, purity, and weight, and users can transfer it on-chain. The card integrates directly with Fasset’s wallet infrastructure. The partnership now places XAU₮ in a cashback role inside a consumer payment product.
Tether and Fasset have brought tokenized gold closer to daily use with their gold-backed Visa card. The product lets users spend through Visa, earn up to 6% cashback in XAU₮, and round up purchases into digital gold. It also connects real-time conversions with wallet infrastructure across Asia and Africa. The launch shows how gold, stablecoins, and payment networks are starting to work together in one product.