What to know:
- Tether and Fasset launched the first gold-backed Visa card.
- Users can earn up to 6% cashback in XAU₮.
- The card converts digital assets into fiat instantly.
- Tether committed up to $1 million in XAU₮ rewards.
Tether and Fasset have launched the world’s first gold-backed Visa card, enabling users to spend fiat while earning XAU₮ rewards. The card includes instant asset conversion, automatic gold accumulation through round-ups, and real-time cashback. The partnership aims to expand tokenized gold adoption across emerging markets globally.
Tether and Fasset Introduce Gold-Backed Visa Card
Tether has partnered with Fasset to launch what the companies describe as the world’s first gold-backed neobanking Visa card. The move aims to bring tokenized gold into everyday financial activity and expand its use beyond long-term holding.
The new card operates through the Visa network, allowing users to make purchases at merchant locations worldwide where Visa is accepted.
When spending fiat currencies, users can earn rewards linked directly to Tether Gold (XAU₮), thereby connecting daily payments to digital gold ownership.
The launch represents a major step in the development of practical use cases for tokenized assets. Instead of treating gold solely as a store of value, the initiative integrates it into common payment experiences.
The card also connects directly to Fasset’s wallet infrastructure, enabling rewards to be delivered in real time.
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Cashback Rewards Drive Digital Gold Adoption
The new card offers users up to 6% cashback in XAU₮ on eligible purchases. This reward structure allows customers to accumulate digital gold while carrying out routine spending activities.
By linking rewards to gold-backed assets, Tether and Fasset are introducing a new approach to consumer payments and savings.
It becomes easy for customers to spend their wealth as they convert XAU₮ to USD₮ and later to fiat cash at the point of sale.
Another feature on the card is automatic rounding, which ensures that leftover money from purchases is channeled into the XAU₮.
Partnership Targets Growing Emerging Market Demand
Fasset presents a platform that integrates multilingual accounts, immediate settlements, fast transactions, a worldwide debit card, as well as investments in crypto-assets, stocks, funds, and commodities.
Fasset is capable of facilitating the smooth conversion of USD₮ into fiat money, which will make the transactions of its users seamless.
This is taking place amid a rise in the valuation of the tokenized gold economy to above $5.3 billion in terms of market value, of which $2.6 billion belongs to XAU₮.
Increasing interest in liquid and accessible asset-backed products continues, particularly in markets that have been affected by currency volatility. In order to boost adoption, Tether will allocate up to $1 million of XAU₮ for its rewards program.
With the combination of the two platforms, Tether and Fasset, the foundations are being laid down for rapid growth in the global gold-backed digital finance industry.
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