Tether and Fasset have launched a gold-backed Visa card, allowing users to spend tokenized gold (XAU₮) globally. The card converts XAU₮ to fiat at the point of sale and offers up to 6% cashback in XAU₮, funded by a $1 million commitment from Tether. An automatic round-up feature also invests spare change into XAU₮, aiming to transform gold from a store of value into a medium of exchange.
Gold-backed Visa card launch
- ▪Tether and digital banking firm Fasset have launched a gold-backed Visa card
- ▪The card allows users to spend Tether Gold (XAU₮) at any location that accepts Visa
- ▪The initiative aims to increase the real-world utility of digital assets, particularly in regions with limited access to stable financial tools
- ▪At the point of sale, the card converts Tether Gold (XAU₮) into USDT and then into local fiat currency
Tokenized gold market growth
- ▪The total market capitalization for tokenized gold has surpassed $5.3 billion
- ▪Tether Gold (XAU₮) accounts for more than $2.6 billion of the tokenized gold market
- ▪Each XAU₮ token represents one fine troy ounce of physical gold held in audited Swiss vaults
Cashback rewards program structure
- ▪Tether has committed up to $1 million in Tether Gold (XAU₮) to fund the card's rewards program and encourage adoption
- ▪Cashback rewards are paid in real-time in the form of Tether Gold (XAU₮) directly to the user's wallet
- ▪Cardholders can earn up to 6% cashback on eligible purchases
Automatic purchase roundup feature
- ▪The spare change from these round-ups is automatically invested into the user's Tether Gold (XAU₮) holdings
- ▪The card includes a feature that automatically rounds up purchases
Tether expansion beyond stablecoins
- ▪In May 2026, Tether partnered with the Government of Georgia to introduce GEL₮, a digital currency linked to the Georgian lari
- ▪The card launch is part of Tether's broader strategy to expand its activities beyond its core stablecoin business
- ▪Tether also acquired SoftBank's entire equity stake in Twenty One Capital, a firm focused on Bitcoin
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