Tether, the largest company in the digital asset industry, announced the launch of the world’s first gold-backed Visa neobanking card in collaboration with Fasset, a stablecoin neobanking and investment platform that allows users to receive money, invest, earn, and make payments from anywhere in the world — marking a strategic step towards mainstream use cases for tokenized gold on a global scale.
The card will operate on the Visa network, enabling users to spend USD at all merchant stores worldwide that accept Visa cards, while earning up to 6% cashback in XAU₮ on eligible transactions.Supported by a tiered rewards system that scales with spending, this effectively creates a reward layer tied to Tether’s gold-backed assets. Additionally, the card features an automatic round-up function that rounds every transaction to the nearest dollar and auto-invests the spare change in XAU₮, enabling continuous, passive gold accumulation through everyday spending.
Fasset has built a platform that brings together multi-currency accounts, fast transfers, instant settlements, a global debit card, and access to interest-free investments across crypto, stocks, funds, commodities, and more. With a presence across Asia and Africa, they are expanding in some of the world’s most dynamic markets, connecting people to tools that make saving, spending, and investing seamless. They also operate as one of the largest digital asset off-ramp providers in their region, ensuring the USD₮-to-fiat conversion layer is highly optimized for speed and reliability.
This initiative will introduce a new global payment model that combines the accessibility of digital assets with the long-standing stability of gold. It also reflects the next phase of gold-backed asset usage by embedding it into familiar financial experiences. The card will be integrated directly with Fasset’s wallet infrastructure, with XAU₮ cashback flowing into users’ wallets in real time.
Globally, digital assets are increasingly used for practical, real-world financial activities, including payments, remittances, savings, and value preservation beyond trading. Stablecoin exceeds $300 billion in circulation; USD₮ dominates with a market cap of over $186 billion, and annual transaction volumes surpass $33 trillion. Meanwhile, demand is growing for financial tools that combine usability with stability, particularly in emerging markets where currency volatility remains a challenge. Tether continues to expand its role in building infrastructure to meet these needs. As part of the launch, Tether is committing up to $1 million in Tether Gold (XAU₮) to power the card’s rewards ecosystem, accelerating the distribution and real-world use of tokenized gold at scale.
“Historically, gold has been a store of value and not a medium of exchange. This changes that narrative,” said Paolo Ardoino, CEO of Tether. “By collaborating with foundational systems that make digital assets practical and accessible globally, we are extending the utility of our ecosystem: connecting stablecoins and tokenized 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: “For over a thousand years, gold has been the most trusted store of wealth across our markets. We’re bringing it into the digital age. With $32 billion in annualized 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. This isn’t just a card, it enables the adoption of digital gold at scale through Fasset’s extensive distribution network.”
Fasset’s infrastructure and distribution in high-growth markets, alongside Tether’s global liquidity and asset issuance capabilities, enable this collaboration to scale rapidly across regions where demand for stable, asset-backed financial tools continues to rise. Together, the companies are creating a global infrastructure layer for the future of asset-backed banking, connecting thousands of years of gold heritage with modern blockchain technology.