Tether and Fasset have launched a Visa card that lets users spend tokenized gold through everyday purchases while earning rewards in Tether Gold. Summary Tether and Fasset have launched a Visa card that allows users to spend tokenized gold in everyday transactions. The card lets users convert XAU₮ into USD₮, then into their local currency at checkout. Eligible users can earn up to 6% cashback in XAU₮ on purchases made through the card. According to the announcement, the card runs on Visa’s global payments network and can be used at merchants that accept Visa. The product allows users to convert Tether Gold (XAU₮) into USD₮, then into their local currency when making a payment. The companies said the card was designed for users who want digital assets that can work in daily transactions, not only as investment holdings. Fasset, a digital banking and investment platform, is issuing the card with Tether as the rewards partner. Card links gold holdings to daily payments Under the program, eligible users can receive up to 6% cashback in XAU₮ on qualifying purchases. Tether said rewards will be credited directly to users’ wallets in real time, giving cardholders a way to collect tokenized gold while using the card for normal spending. The card also includes an automatic round-up feature. When a user makes a purchase, spare change from the transaction can be invested into Tether Gold. Fasset said this feature gives users a simple way to build exposure to gold without making separate manual purchases. For payments, the card handles conversion at checkout. Users can hold XAU₮, convert it into USD₮, and spend it in local currency through the Visa network. The companies said this structure allows tokenized gold to move from a store-of-value product into a more practical payment tool. Tether commits XAU₮ to rewards program Tether said it has committed up to $1 million worth of XAU₮ to support rewards tied to the card. The company said the funding is intended to encourage greater everyday use of tokenized gold for payments. Paolo Ardoino, Tether’s chief executive officer, said gold has long been treated mainly as a store of wealth rather than a spending asset. He said the new card changes that use case by making gold-backed digital assets available for daily purchases. Ardoino added that Tether wants to work with platforms that make digital assets more accessible across markets. He said the partnership with Fasset supports that plan by bringing tokenized gold closer to consumers. Tokenized gold market expands The launch comes as the tokenized gold market has grown above $5.3 billion, according to figures cited in the announcement. XAU₮ accounts for more than $2.6 billion of that market. Fasset CEO and Co-Founder Mohammad Raafi Hossain said gold has served as a trusted store of wealth for centuries across many markets. He said Fasset and Tether are bringing that asset into digital payments through the new card. The card launch follows other moves by Tether outside its main USD₮ stablecoin business. Last month, Tether partnered with the Government of Georgia on GEL₮, a digital currency linked to the Georgian lari. The company said the project is intended to improve settlement speed and lower transaction costs. Tether has also acquired SoftBank’s full equity stake in Twenty One Capital, a Bitcoin-focused company. According to Tether, the acquisition supports its plan to expand into more digital asset services. Source: DeFiLlama Meanwhile, DeFiLlama data shows Tether’s market capitalization stands near $187.8 billion.
