Tether launches Visa card with cashback in XAUt

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Tether launches Visa card

Highlights

Tether and Fasset launched a Visa card that offers rewards in XAUt, a gold-backed digital token.
Users can spend through a conversion path from XAUt to USDT and then to fiat.
The card offers up to 6% cashback in tokenized gold on eligible transactions.
Tether is committing up to $1 million in XAUt to support the rewards program.

Tokenized gold enters card payments

Tether said the card will operate on the Visa network and will be integrated with Fasset’s wallet infrastructure. Users will be able to spend by converting XAUt into USDT and then into fiat at the point of transaction, allowing the gold-backed token to function indirectly in regular merchant payments.

The card will offer up to 6% cashback in XAU t on eligible purchases, with rewards credited to users’ wallets in real time. It will also include an automatic round-up feature that invests spare change from transactions into XAUt, turning routine spending into small recurring purchases of tokenized gold.

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Fasset provides the payments layer

Fasset brings the customer-facing infrastructure for the product, including multi-currency accounts, fast transfers, instant settlement, a global debit card, and access to investments across crypto, stocks, funds, and commodities. Tether said Fasset has a presence across Asia and Africa and operates as a large digital asset off-ramp provider in its region, supporting the conversion between USDT and fiat.

The companies are positioning the card as a bridge between traditional payments and asset-backed digital tokens. Tether said the market capitalization of tokenized digital gold is above $5.3 billion, with XAUt accounting for more than $2.6 billion of that total. As part of the rollout, Tether said it will commit up to $1 million in XAUt to support the card’s rewards ecosystem.

A practical test for digital gold

The launch matters because tokenized gold has largely been treated as an investment or store-of-value product rather than a tool for everyday payments. A Visa-linked card changes that by embedding XAUt into a familiar consumer experience, while still relying on fiat settlement at the merchant level.

The model also reflects growing demand for dollar- and gold-linked digital assets in markets exposed to currency volatility. If adoption follows Tether’s expectations, the card could become a test case for whether tokenized commodities can move beyond trading platforms and into daily financial use.

Earlier, we reported that Tether boosted USDT supply with a $2 billion mint on Ethereum.

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