Tether and Fasset are launching a gold-backed neobanking Visa card, bringing XAUt closer to everyday payments instead of leaving tokenized gold as a buy-and-hold asset.
The card will run on Visa’s merchant network and allow users to spend through fiat at supported stores worldwide. The payment flow converts XAUt into USDT and then into fiat at the point of transaction, letting users hold gold-backed exposure while still paying through familiar card rails.
The rewards layer is the main hook. Eligible transactions can earn up to 6% cashback in XAUt, with rewards flowing into users’ Fasset wallets. The card will also include a round-up feature that automatically converts spare change from purchases into XAUt, turning ordinary spending into small recurring gold accumulation.
Tether is committing up to $1 million in XAUt to support the rewards ecosystem and accelerate adoption.
The launch gives tokenized gold a clearer consumer use case. XAUt represents one troy fine ounce of gold on a London Good Delivery bar, with allocated gold identifiable by serial number, purity and weight. Until now, the strongest use case has been holding or trading gold exposure onchain.
A payment card changes that model. Users can keep value in a gold-backed token, spend through fiat rails and receive rewards in more gold exposure without needing to manually buy small amounts after each purchase.
That matters because tokenized gold demand has already been rising. Tokenized gold crossed 2025’s full-year trading volume in one quarter, while broader tokenized RWA growth has been driven partly by commodity-backed assets such as XAUt and PAXG.
The new card pushes that demand into payments, rewards and emerging-market savings behavior, where gold has long been used as a store of value but has been harder to spend directly.
Fasset brings the wallet, off-ramp and regional distribution layer. Its platform supports multi-currency accounts, fast transfers, settlement, debit-card access and investment products across crypto, stocks, funds and commodities. The company has a presence across Asia and Africa, where demand for dollar access, gold exposure and lower-friction payments can be stronger because of currency volatility and weaker banking access.
The structure also extends Tether’s broader payments strategy. Tether has already been pushing stablecoins into national and local payment rails, including the planned GEL₮ stablecoin for Georgian lari payments. The Fasset card adds a different asset class to the same direction: not only dollar settlement, but gold-backed savings tied to card spending.
The launch also fits the wider card-network shift toward digital-asset settlement. Mastercard’s stablecoin payment infrastructure push and Visa-linked crypto card products show that digital assets are increasingly moving behind normal payment experiences rather than sitting only inside exchanges.
For Tether, the card gives XAUt a stronger role beside USDT. USDT remains the liquidity layer. XAUt becomes the gold-backed savings and rewards layer. Fasset provides the user-facing wallet and off-ramp infrastructure. Visa provides the merchant acceptance layer.
The key test now is adoption across eligible markets. If users treat the card as a way to save in gold while spending normally, XAUt moves from a tokenized commodity into a practical payment-linked asset. That would make the launch more than another crypto card. It would turn digital gold into a rewards and savings tool connected to everyday transactions.
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