Tether has launched a gold-backed Visa neobanking card in collaboration with Fasset, a stablecoin neobanking and investment platform.
The card enables users to spend USD at Visa-accepting merchants globally and earn up to 6% cashback in Tether Gold (XAU₮) on eligible transactions. It uses a tiered rewards structure linked to spending levels.
The card includes an automatic round-up feature that rounds transactions to the nearest dollar and invests the difference into XAU₮, allowing users to accumulate tokenised gold through daily spending.
It integrates directly with Fasset’s wallet infrastructure, and credits cashback in real time.
Fasset provides multi-currency accounts, transfers, instant settlements, a debit card, and access to investments in crypto, equities, funds, and commodities.
It operates across Asia and Africa and also facilitates USD₮-to-fiat conversions as an off-ramp provider.
Tether said the initiative combines digital asset payments with gold as a store of value. It also committed up to $1 million in XAU₮ to support the card’s rewards system and encourage use of tokenised gold.
Global use of digital assets for payments, remittances, and savings continues to grow. Stablecoin circulation exceeds US$300 billion, with USD₮ accounting for more than $186 billion and annual transaction volumes above US$33 trillion.
Paolo Ardoino, CEO of Tether, said:
“By collaborating with foundational systems that make digital assets practical and accessible globally, we extend the utility of our ecosystem: connecting stablecoins and tokenised gold to real-world payment systems, giving users the option to hold gold and spend it when they choose without friction or borders.”
Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, said:
“With US$32 billion in annualised volume, 95% of which is held 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.”
Featured image credit: Fasset press release
