Tether on Monday announced a gold-backed Visa card. To debut this card, the USDT-issuer has joined hands with Fasset, which is a stablecoin neobanking platform that is headquartered in Dubai, UAE. As per an official statement released on Monday, this is the world’s first gold-backed Visa card.
The move is intended to transition gold from a static store of value to a fully functional medium of exchange within the international financial ecosystem.
“This changes that narrative,” said Paolo Ardonio. “By collaborating with foundational systems that make digital assets practical and accessible globally, we are connecting stablecoins and tokenized gold to real-world payment systems, giving users the option to hold gold and spend it.”
The card will be compatible with Visa’s extensive global network of merchants. Each time the cardholders use this gold-backed card for a transaction, they will be able to accure upto six percent cashback settled in the XAUT token.
Issued by Tether, XAUT is the world’s biggest gold-backed stablecoin backed by one troy ounce of real gold in 1:1 ratio. At the time of writing, the stablecoin was trading at $4,667, data by CoinMarketCap showed.
The card has been laced with an “automatic round up function” through which, each transaction would be rounded to the nearest dollar and the spare change would be invested into the XAUT token. The aim is to enable continuous and passive gold accumulation via everyday spending.
Under the pastnership, Fasset will be providing its neobanking infrastructure and distribution network across high-growth markets. Launched in 2019, Fasset enables cross-border banking, crypto investments, and yield earnings through investments.
For Fasset, this development could position itself as a prominent player in tokenizing gold on blockchain.
“With $32 billion in annualized volume, 95 percent 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,” said Mohammad Raafi Hossain, CEO and Co-Founder of Fasset. “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.”
Through this move, it seems like Tether is trying to push its rather expensive XAUT stablecoin into a rewards-based adoption spiral among investors.
In January this year, Tether said that the XAUT stablecoin has managed to capture 60 percent of the overall gold-backed stablecoin market — that grew from $1.3 billion in valuation to $4 billion in 2025.
Tether has been massively accumulating gold to maintain XAUT’s 1:1 ratio with the token. By its own admission, Tether Gold Investments acquired 27 metrics ton of gold to its reserves in the fourth quarter of 2025.
For now, the release date of this gold-backed Visa card remains unannounced. The waitlist to get the card, however, has been made live.
