Overview
- The companies unveiled the product on June 3, 2026, describing a Visa payment card that spends a user’s XAU₮ balance by instant conversion to USDT and then to local currency at point of sale.
- Cardholders can receive up to 6% cashback paid in XAU₮ on eligible purchases and enable an automatic round-up feature that invests spare change into XAU₮.
- Fasset will issue and distribute the card in select Asian and African markets using its digital-banking and fiat off-ramp infrastructure, though active rollout depends on regulatory and partner approvals.
- Tether said each XAU₮ represents one fine troy ounce of physical gold held in reserve in London and Swiss storage and committed up to $1 million in XAU₮ to support the card’s rewards program.
- The move aims to shift tokenized gold from a store-of-value into a payments and savings tool and arrives as the tokenized-gold market tops roughly $5.3 billion with XAU₮ around $2.6–$2.7 billion, a change that could broaden everyday access to gold in currencies with more volatility.