Tether and Fasset Launch Gold-Backed Visa Card with Crypto Rewards

Jun 3, 2026

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.