TLDR Tether launched a Visa card that offers up to 6% cashback in XAUT on eligible purchases. The card allows users to spend fiat globally while earning rewards in tokenized gold. Tether part
Tether announced a new Visa payment card that rewards users in its gold-backed stablecoin XAUT. The company said the card enables global fiat spending while offering up to 6% cashback in XAUT. Tether confirmed it partnered with fintech firm Fasset to issue the card across select markets.
Tether said the card will run on the Visa network and support payments at merchants worldwide. Cardholders will spend fiat currencies while earning up to 6% cashback in XAUT on eligible purchases. The company stated that the reward structure links daily spending to tokenized gold holdings.
Tether partnered with Fasset to issue and distribute the card in Asia and Africa. Fasset operates as a digital asset off-ramp provider in several emerging markets. In 2022, Fasset raised $22 million in Series A funding to expand its services.
Tether confirmed that the card also converts USDT into fiat at the point of sale. Users will fund transactions with USDT, and the system will process payments in local currencies. The company said this feature connects stablecoin balances with traditional payment infrastructure.
The firm stated that the card integrates tokenized gold into routine consumer payments. Tether CEO Paolo Ardoino said the initiative connects stablecoins and tokenized gold with global transactions. He added that users can hold gold-backed assets while spending through established payment networks.
Tether said the card includes an automatic round-up feature on transactions. The system will round up spare change from each purchase and allocate the excess funds into XAUT. The company confirmed that this mechanism invests fiat amounts directly into its gold-backed token.
XAUT represents one fine troy ounce of physical gold held in reserve. Tether stated that each token corresponds to gold stored on a London Good Delivery bar. The company offers XAUT through TG Commodities Limited, a Tether subsidiary.
According to company data, XAUT has a market capitalization of about $2.6 billion. Tether reported that it holds approximately 24 tons of gold backing XAUT reserves. The company publishes reserve information on its official website.
Ardoino stated, “Through this initiative, we are connecting stablecoins and tokenized gold to real-world payment systems.”
He added that the structure gives users options to hold and invest in gold-backed digital assets. The company confirmed that the card rollout will begin following regulatory and partner approvals.
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