Tether will commit up to $1 million in XAU₮ to boost the card’s rewards.
It is presented as the first card of its kind, but there are already others with similar characteristics.
This Wednesday, June 3, 2026, Tether, a company focused on the development of stablecoins, announced the launch of a Visa card backed by the XAU₮ cryptocurrencywhich is the tokenized gold issued by this company. The development is carried out in conjunction with Fasset, a digital banking and investment platform.
According to the information provided by Tether, The card can be used in any business in the world where Visa is accepted and you will get up to 6% cashback payable in XAU₮, for certain transactions.
“Users will be able to spend their assets in seconds, converting XAU₮ to USD₮ and then to fiat currency at the time of the transaction,” details Tether.
Furthermore, the release adds that “the card will feature an auto-rounding feature that automatically invests the remaining change from each transaction into XAU₮, allowing for continuous, passive accumulation of gold through daily spending.”
As part of the launch, Tether Reports It Will Dedicate Up to $1 Million in XAU₮ to Boost Card Rewards Ecosystem and accelerate the use of tokenized gold.
“Historically, gold has been a store of value, not a medium of exchange. This initiative changes that perception,” said Paolo Ardoino, CEO of Tether.
It is worth clarifying that compliance with such assertion will depend, among other factors, on the degree of adoption of the card.
It is also necessary to point out that There are already cryptocurrency cards that allow you to pay with a balance held in tokenized gold. For example, CriptoNoticias was able to verify that Lemon Cash, an Argentine wallet with a presence in other parts of the world, allows you to use your card to make payments with PAX Gold (PAXG), the gold stablecoin issued by the Paxos company.