Something big is happening in the world of crypto finance. Tether and Fasset have just reached a new milestone for digital gold. The two companies launched the first gold-backed Visa card, allowing one to spend tokenized assets while receiving rewards in XAU₮. An initiative that brings traditional finance and digital assets closer together!
In brief
- Tether and Fasset launch the first gold-backed Visa card.
- Each purchase allows you to passively accumulate gold.
- The solution targets emerging markets in particular.
A historic turning point for digital gold
For centuries, gold has been a store of value and never a everyday means of payment. Tether just changed this equation. In partnership with Fasset, a digital banking platform active in Asia and Africa, the stablecoin giant is launching a functional Visa card. The latter is accepted everywhere in the world where Visa is accepted.
But that's not the most surprising! Each transaction made with the card generates up to 6% cashback in XAU₮Tether's gold token, directly into the user's wallet.
The mechanics are simple:
- The user pays in fiat currency.
- The system converts XAU₮ to USDT and then to fiat in real time.
- Gold cashback is credited instantly.
There new Visa card even has an automatic rounding function. More explicitly, the remaining virtual currency after each purchase is automatically invested in XAU₮. Which allows passive accumulation of gold without effort.
1 million dollars put on the table by Tether
To launch the ecosystem, Tether is committing up to $1 million in XAU₮. The goal: to fuel the rewards program. For crypto experts, this is a strong signal: the company is not testing, it is betting.
According to Tether CEO Paolo Ardoino in the statementthe objective is to connect tokenized gold to global payment systems to make it truly usable, without friction or borders. Note that the total capitalization of tokenized digital gold today exceeds $5.3 billion. And XAU₮ alone represents more than 2.6 billion.
For its part, Fasset displays $32 billion in annualized volumes, 95% of which is in real assets. The company aims to make Tether Gold the most held digital gold token in emerging markets. In regions where monetary volatility is high, access to a safe haven asset like gold via a simple payment card represents an unprecedented opportunity for millions of users.
In any case, this launch marks much more than a commercial partnership. It signals a transition: tokenized gold enters the real economy, accessible on a daily basis, for everyone.
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