Tether Launches First Gold-Backed Visa Card, Commits $1M in XAUT Rewards Today

According to Tether, the company and Fasset today launched the world's first gold-backed Visa card, with Tether committing up to $1 million in XAUT to fund the rewards program. Users earn up to 6% cashback in XAUT, Tether's gold-backed token, on eligible transactions. The card operates on the Visa network globally and includes an automatic round-up feature that converts spare change into XAUT holdings.

The tokenized gold market has surpassed $5.3 billion in total value, with XAUT accounting for $2.6 billion. Fasset, the card partner, processes $32 billion in annualized volume across Asia and Africa, with 95% tied to real-world assets. The initiative targets emerging markets where currency volatility drives demand for asset-backed alternatives.