Fasset, Tether launch gold-backed Visa card

By Aarav Garg

Fasset has partnered with Tether to launch a  gold-backed neobanking card on the Visa network, marking a step toward embedding tokenised assets into everyday payments.

The card allows users to spend in USD at any merchant that accepts Visa, while earning up to 6% cashback in XAU₮, Tether’s gold-backed digital asset. A tiered rewards structure scales with spending, while an automatic round-up feature invests spare change from transactions into XAU₮, enabling passive gold accumulation through routine purchases.

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 annualised volume,95% 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. This isn’t just a card, it enables the adoption of digital gold at scale through Fasset’s extensive distribution network.”

Fasset’s platform brings together multi-currency accounts, transfers, investments and a global debit card, with a growing presence across Asia and Africa. It also operates as a digital asset off-ramp provider, facilitating conversion between stablecoins and fiat currencies, a key component in enabling real-world usability.

“Historically, gold has been a store of value and not a medium of exchange. This changes that narrative,” said Paolo Ardoino, CEO of Tether. “By collaborating with foundational systems that make digital assets practical and accessible globally, we are extending the utility of our ecosystem: connecting stablecoins and tokenised gold to real-world payment systems, giving users the option to hold gold and spend it when they choose without friction or borders.”

The move comes as stablecoins and tokenised assets gain traction beyond trading, with increasing use in payments, remittances and savings. In markets facing currency volatility, asset-backed instruments are being positioned as alternatives for value preservation and financial access.

As part of the rollout, Tether has committed up to $1 million in XAU₮ to support the rewards ecosystem. The collaboration reflects a broader shift toward hybrid financial services, where fintech platforms integrate digital assets with established global payment rails.