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- Tether and Fasset have launched the world’s first gold-backed neobanking Visa card.
- Users can earn up to 6% cashback in XAU₮ and invest spare change into digital gold.
- The partnership aims to expand tokenized gold adoption across emerging markets.
Tether has launched a new payment product that brings tokenized gold into daily financial activity. The company partnered with Fasset, a digital banking and investment platform, to introduce what it calls the world’s first gold-backed neobanking Visa card.
The launch marks another step in the effort to connect blockchain-based assets with traditional financial services. It also highlights growing interest in digital assets that offer both stability and practical use.
The card operates on the Visa network and allows customers to make purchases at merchants around the world where Visa payments are accepted. Users can spend their digital assets while remaining connected to a gold-backed rewards system.
Tether and Fasset Launch Gold-Backed Debit Card
A key feature of the card is its rewards program, where you can earn up to 6% cashback in XAU₮. Tether’s gold-backed digital asset, on eligible transactions. No need for traditional reward points here; cardholders get digital gold straight to their accounts.
Another cool thing about the card is its round-up tool. Each purchase gets rounded up to the nearest dollar, and the leftover gets invested in XAU₮. This lets folks build up their gold stash just from regular spending. No extra thought needed. For payments, the platform changes XAU₮ to USD₮ and then to local money super fast.
So customers can use their digital assets smoothly, like any other payment method. Tether even chipped in up to $1 million in XAU₮ to kick-start the rewards and get more people using the card. Fasset did the heavy lifting, setting up the infrastructure for this neat card.
The platform pulls multi-currency accounts, quick money transfers, speedy settlements, investment services, and that nifty debit card into one convenient package. The company now covers a bunch of markets in Asia and Africa and also handles conversions from digital assets to local cash for its users.
Card Links Spending With Digital Gold
The new card plugs right into Fasset’s wallet system. As users spend, they get instant cashback rewards, making the shift from spending to earning assets super smooth. The tokenized gold space is still drawing a ton of interest from both investors and customers.
The market now tops $5.3 billion, with XAU₮ taking a big slice of that at over $2.6 billion. People in areas hit hard by inflation and currency swings really want tools that keep their money stable and easy to access.
This partnership between Tether and Fasset hopes to make tokenized gold part of daily payments more often. By blending gold’s classic draw with today’s tech, they’re shaping a new path for how we think about asset-backed digital finance.
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