The stablecoin issuer company Tether, in conjunction with the digital banking firm Fasset, announced the launch of an innovative Visa card backed by digital gold. As explained by Tether CEO Paolo Ardoino, this product will allow users to use their Tether Gold (XAUT) token as a medium of payment at millions of global merchants, transforming the traditional narrative of gold as a simple store of value to convert it into a dynamic exchange asset.
Unlocking real-world utility through the Fasset Card.
In strategic partnership with @Tether.
Delivering USDT and Tokenized RWAs in global markets where no bank or traditional brokers can operate. https://t.co/Qz3UVmoMrw pic.twitter.com/bFzqOf3Zla
— Fasset (@fasset) June 3, 2026
The mechanism of the card processes transactions at the point of sale by instantly converting XAUT to the dollar-backed stablecoin USDT, before ultimately settling in local fiat currency. In addition to liquidity access, cardholders will receive benefits of up to 6% cashback in real-time credited directly in XAUT, along with an automatic round-up tool that reinvests the remaining balances from each purchase back into the same physical gold token audited in Swiss vaults.
This move effectively connects assets from the crypto and blockchain ecosystem with traditional payment systems in the real economy. The next strategic step for users will be the global adoption of the card, allowing them to diversify funds into precious metals without losing everyday usability.
Source: https://x.com/fasset/status/2062157120347181308
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