Tether, the issuer of USDT, and Fasset, a digital banking and investment platform, have launched a gold-backed Visa card that allows users to spend tokenized gold in everyday transactions, marking a new push to connect digital assets with real-world payments. The companies say the card targets rising demand for practical uses of crypto-based assets, especially in regions where access to stable financial tools remains limited.
As per the announcement, the card operates on Visa’s global network and works wherever Visa is accepted. Users can convert Tether Gold (XAU₮) into USD₮ and then into local currency at the point of sale. Additionally, the card offers up to 6% cashback in XAU₮ on eligible purchases. Hence, users can spend normally while gradually building exposure to digital gold through everyday activity.
Gold for everyday spending
The card adds features that link spending with investing in digital gold. It rounds up purchases automatically and invests the spare change into Tether Gold (XAU₮). As a result, users can build gold holdings gradually through normal shopping activity.
The launch comes as the tokenized gold market rises above $5.3 billion. XAU₮ accounts for more than $2.6 billion of that total. Besides investment interest, demand continues to grow for digital assets that offer stability, easy access, and everyday usability.
Additionally, Tether has committed up to $1 million in Tether Gold (XAU₮) to support the card’s rewards program. The company says the funding aims to encourage wider use of tokenized gold in everyday payments. Additionally, cashback rewards will go directly into users’ wallets in real time.
Paolo Ardoino, CEO of Tether, said the initiative changes how people use gold. “Historically, gold has been a store of value, not a medium of exchange. This initiative changes that narrative,” he said.
He added that partnerships like this help make digital assets more practical in daily life. “By collaborating with systems that make digital assets practical and accessible globally, we are extending the utility of our ecosystem,” Ardoino said.
Expansion beyond stablecoins
The card launch comes as Tether expands its activities beyond stablecoins. Last month, the company partnered with the Government of Georgia to introduce GEL₮, a digital currency linked to the Georgian lari. The project aims to speed up settlements and reduce transaction costs.
Moreover, Tether also acquired SoftBank’s entire equity stake in Twenty One Capital, a Bitcoin-focused firm. The company said the move supports its broader strategy to grow beyond its core stablecoin business.
Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, said gold remains a trusted store of value in global markets. “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,” he said.
Meanwhile, data from DeFiLlama shows Tether’s market capitalization stands at about $187.8 billion. The company continues to expand its presence in payments, digital assets, and blockchain-based financial services across global markets.
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