Fasset and Tether Launch Gold-Backed Visa Card With Tokenised Asset Rewards
Fasset and Tether have introduced a new gold-backed Visa neobanking card designed to combine everyday spending with tokenised asset rewards. The card allows users to spend fiat currency globally across the Visa network while earning up to 6% cashback in Tether Gold (XAU₮) on eligible purchases, according to the companies.
The launch adds another layer to the growing intersection of digital assets, payments, and wealth storage, with the product positioned for users seeking both transactional utility and exposure to tokenised gold. The card features a tiered rewards structure linked to spending levels and includes an automatic round-up function that converts transaction differences into XAU₮, enabling cardholders to accumulate tokenised gold through routine purchases.
Integrated with Fasset’s Wallet Infrastructure
Fasset said the card is integrated directly with its wallet infrastructure and credits cashback in real time. The platform offers multi-currency accounts, transfers, instant settlements, a debit card, and access to investments in crypto, equities, funds, and commodities. It also operates across Asia and Africa and provides USD₮-to-fiat conversions as an off-ramp service.
Through the new offering, users can spend USD at Visa-accepting merchants worldwide while receiving rewards in tokenised gold. The companies said the product is intended to make digital asset usage more practical for payments and savings, while preserving gold’s traditional role as a store of value.
Tether Commits Up to US$1 Million in XAU₮
Tether said it will contribute up to US$1 million in XAU₮ to support the card’s rewards programme and encourage broader use of tokenised gold. The company highlighted the initiative as part of its effort to connect stablecoin and tokenised gold infrastructure with real-world payment systems.
According to Tether, the collaboration reflects growing demand for digital asset applications in payments, remittances, and savings. The company noted that stablecoin circulation now exceeds US$300 billion, with USD₮ accounting for more than US$186 billion and annual transaction volumes above US$33 trillion.
Executive Comments
Paolo Ardoino, CEO of Tether, said the partnership extends the utility of the company’s ecosystem by linking stablecoins and tokenised gold to practical payment rails. He said the goal is to give users the ability to hold gold and spend it without friction or borders.
Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, said the company is building infrastructure to make Tether Gold more widely held in emerging markets. He pointed to Fasset’s annualised volume of US$32 billion, with 95% of that volume held in real-world assets, as evidence of demand for the model.
Industry Analysis
The launch signals continued momentum in products that merge payments with tokenised assets, particularly in markets where users value both capital preservation and cross-border spending flexibility. By tying cashback and round-up features to tokenised gold, the card creates a use case that blends consumer payments with digital asset accumulation.
It also underscores how stablecoins and tokenised commodities are increasingly being positioned as functional financial tools rather than speculative assets alone. For fintech firms operating across emerging markets, such products may appeal to users looking for accessible alternatives to traditional savings and rewards programmes.
As tokenised asset adoption expands, partnerships between payments networks, digital asset platforms, and stablecoin issuers are likely to remain a key area of innovation in fintech.
