3 June 2026 – Tether, the largest company in the digital asset industry, today announced the launch of the world’s first gold-backed neobanking Visa card in collaboration with Fasset, a digital banking and investment platform that allows users to receive money, invest, earn, and make payments from anywhere in the world. This marks a strategic step toward mainstream use cases for tokenized gold on a global and relatable scale.
The card will operate on the Visa network, enabling users to spend fiat at merchant stores worldwide where Visa cards are accepted while earning up to 6% cashback in XAU₮ on eligible transactions, creating a reward layer tied to Tether’s gold-backed assets. Users can seamlessly spend their assets in seconds by converting XAU₮ to USD₮ and then to fiat at the point of transaction. Additionally, the card will feature an automatic round-up function that uses the spare change from every transaction to purchase XAU₮, enabling continuous, passive gold accumulation through everyday spending.
Fasset brings together multi-currency accounts, fast transfers, instant settlements, a global debit card, and access to interest-free investments across crypto, stocks, funds, and commodities on its platform. With a presence across Asia and Africa, it also operates as one of the largest digital asset off-ramp providers in its region, ensuring the USD₮-to-fiat conversion layer is optimized for speed and reliability.
This initiative introduces a new global payment model that combines the accessibility of digital assets with the long-standing stability of gold. It reflects the next phase of gold-backed asset usage by embedding these assets into familiar financial experiences. The card will be integrated directly with Fasset’s wallet infrastructure, with XAU₮ cashback flowing into users’ wallets in real time.
The market cap of tokenized digital gold is over $5.3 billion, with XAU₮ accounting for over $2.6 billion. Demand is growing for digital assets that offer Investment opportunities, high liquidity, accessibility, and usability, especially in emerging markets where currency volatility is a challenge. Tether continues to expand its reach by collaborating with platforms to meet these needs. As part of the launch, Tether is committing up to $1 million in XAU₮ to power the card’s rewards ecosystem and accelerate the real-world use of tokenized gold.
“Historically, gold has been a store of value, not a medium of exchange. This initiative changes that narrative,” said Paolo Ardoino, CEO of Tether. “By collaborating with systems that make digital assets practical and accessible globally, we are extending the utility of our ecosystem. Through this initiative, we are connecting stablecoins and tokenized gold to real-world payment systems, making them usable, accessible, and seamlessly integrated into global transactions, giving users the option to hold gold and invest it however they choose, without friction or borders.”
Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, said: “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. With $32 billion in annualized volume (95% 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. This isn’t just a card – it enables the adoption of digital gold at scale through Fasset’s extensive distribution network.”
Fasset’s infrastructure and distribution in high-growth markets, combined with Tether’s global liquidity and asset issuance capabilities, enable this collaboration to scale rapidly across regions where demand for stable, asset-backed financial tools is rising. Together, the companies are creating a global infrastructure for the future of asset-backed banking, connecting thousands of years of gold heritage with modern blockchain technology.
About Tether Gold (XAU₮)
Tether Gold (XAU₮) is a digital asset offered by TG Commodities Limited. One full XAU₮ token represents one troy fine ounce of gold on a London Good Delivery bar. The token can be traded or moved easily at any time, anywhere in the world, and can be transferred to any on-chain address from the purchaser’s Tether wallet, where it is issued after purchase. The allocated gold is identifiable with a unique serial number, purity, and weight, and is redeemable in the form of physical gold.
Important Note:
This press announcement is not an offer to sell or the solicitation of an offer to buy Tether Gold (XAU₮). TG Commodities S.A de C.V. will only sell or redeem XAU₮ pursuant to its gold token terms of sale and service available (as of the date of this press release) at https://gold.tether.to/legal
