Tether has partnered with Fasset to launch a gold-backed Visa card, allowing users to spend using Tether Gold (XAUT) while earning rewards in tokenized gold.

The card enables users to make purchases anywhere Visa is accepted, with the platform automatically converting assets behind the scenes. Eligible users can earn up to 6% cashback in XAUT, while an automatic round-up feature allows spare change from purchases to be invested directly into gold-backed tokens.

The launch marks a significant step in expanding the utility of tokenized gold beyond investment and storage, bringing it into everyday payments. Users can hold XAUT, convert it into USDT when needed, and spend through traditional payment rails without merchants needing to accept crypto directly.

Tether said XAUT currently represents more than $2.6 billion of the tokenized gold market. To encourage adoption, the company is committing up to $1 million in XAUT to support the rewards program.