What is Tether’s new gold-backed Visa card?

Tether and Fasset have launched what they describe as the world's first gold-backed Visa card. The card allows users to spend fiat currency while earning rewards in Tether Gold (XAUT), a token backed by physical gold.

How does the Tether Gold Visa card work?

Users make purchases through the Visa network, and eligible transactions generate cashback paid in XAUT. The card also includes an automatic round-up feature that converts spare change from purchases into digital gold.

What is XAUT and how is it backed?

XAUT, or Tether Gold, is a tokenised gold asset issued by Tether. Each XAUT token represents ownership of one troy fine ounce of gold stored in a London Good Delivery gold bar.

How much cashback does the Tether Gold card offer?

The card offers up to 6% cashback in XAUT on eligible purchases. Rewards are deposited directly into users' wallets, allowing them to accumulate tokenised gold through everyday spending.

Why is Tether committing $1 million in XAUT rewards?

Tether is providing up to $1 million in XAUT to help launch the rewards ecosystem and encourage adoption. The incentive is designed to attract users and increase engagement with gold-backed digital assets.

Why is this launch important for the tokenised gold market?

The product expands the practical use of tokenised gold beyond simply holding it as an investment. By integrating XAUT into everyday payments, Tether and Fasset are attempting to turn digital gold into both a savings and spending tool.

How large is the tokenised gold market today?

According to the article, the tokenised gold market is valued at more than $5.3 billion. XAUT accounts for over $2.6 billion of that total, making it the largest tokenised gold product by market capitalisation.

Why are tokenised gold products gaining popularity?

Demand is increasing in regions where local currencies can experience significant volatility. Gold-backed digital assets offer users exposure to a historically trusted store of value while maintaining the convenience of digital transactions.

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Tether funds $1M gold rewards card

Written by Liezl GambePublished Jun 4, 2026, 2:55 AM

Tether and Fasset have launched a gold-backed Visa card that allows users to spend fiat currencies while earning rewards in Tether Gold (XAUT), as the companies seek to expand real-world use cases for tokenised precious metals.

The card offers up to 6% cashback in XAUT and includes an automatic round-up feature that converts spare change from everyday purchases into digital gold, creating a passive savings mechanism for users.

“Historically, gold has been a store of value, not a medium of exchange,”

Said Tether Chief Executive Officer, Paolo Ardoino.

“This initiative changes that narrative.”

Tether has committed up to $1 million in XAUT to support the rewards programme, while the card operates on the Visa network and is accepted at merchants globally wherever Visa payments are supported.

“For over a thousand years, gold has been the most trusted store of wealth across our markets,”

Said Fasset Chief Executive Officer and Co-founder, Mohammad Raafi Hossain.

“We’re bringing it into the digital age.”

He added.

The launch comes as the tokenised gold market exceeds $5.3 billion in value, with XAUT accounting for more than $2.6 billion, making it the largest tokenised gold product by market capitalisation.

Fasset, which operates across Asia and Africa and processes approximately $32 billion in annualised transaction volume, said the integration positions XAUT as both a spending and savings tool for users seeking exposure to gold without holding physical bullion.