Tether and Fasset have launched what they describe as the world’s first gold-backed neobanking Visa card, giving users a way to spend fiat at merchants worldwide while accumulating tokenized gold through cashback and automatic round-ups. According to Tether’s announcement, the card runs on the Visa network, accepted wherever Visa is used globally. On eligible transactions, users earn up to 6% cashback paid directly in XAUT, Tether’s gold-backed token. Each XAUT represents one troy fine ounce of gold on a London Good Delivery bar.