SBI Remit partners with Fasset to launch stablecoin-powered cross-border payment network. Key highlights. Table of Contents * Japanese remittance leader SBI Remit collaborates with Fasset to develop stablecoin-powered payment infrastructure * Integration connects Fasset's Own Network payment corridors with SBI Remit's extensive transfer network * Initiative focuses on international remittances, business-to-business transactions, corporate treasury, and settlement solutions * Blockchain-based payment channels designed to reduce expenses and accelerate international money transfers * Collaboration extends SBI Group's digital currency initiatives amid Japan's evolving regulatory framework A strategic alliance between SBI Remit and Fasset aims to establish payment channels utilizing stablecoins for international fund transfers. This collaboration encompasses remittance services, commercial transactions, corporate treasury operations, and settlement activities spanning multiple geographic markets. The initiative represents yet another blockchain-focused venture within SBI Group's expanding suite of financial offerings. Blockchain technology creates alternative pathway for international transactions. The integration will link SBI Remit's worldwide remittance infrastructure with Fasset's distributed ledger-based payment platform. Both organizations seek to accelerate transaction speeds, minimize transfer expenses, and enhance transaction transparency. Their operational emphasis will cover payment routes throughout Asia, Middle Eastern nations, African countries, and additional territories. Since its establishment, SBI Remit has facilitated over JP¥2.5 trillion in aggregate transaction value. The company's distribution network extends to over 200 nations and jurisdictions through various strategic alliances. These collaborators encompass MoneyGram, Tranglo, banking institutions, and localized payment service providers. Fasset contributes its Own Network infrastructure to this collaboration, delivering extensive digital payment reach. The system handles approximately $32 billion in yearly transaction throughput. Additionally, the platform maintains support for over two million digital wallets and connects to 16 separate blockchain ecosystems. Digital currency applications extend beyond traditional remittance services. The collaborative effort will prioritize remittance operations, small and medium enterprise transactions, corporate treasury functions, and settlement activities during its initial phase. Stablecoins offer the potential to minimize processing delays since transactions can finalize independent of conventional banking infrastructure. These digital assets may also decrease operational expenses and enhance transparency throughout payment processes. Both organizations intend to develop offerings connected to payment cards, digital wallets, and cash collection agent networks. Such capabilities could benefit individual consumers, retail businesses, and corporations conducting international operations. Consequently, this partnership extends beyond basic fund transfers into comprehensive financial service delivery. According to Fasset, upcoming platform features may enable programmatic fund movement and automated financial operations. Such capabilities might assist users in handling payroll, savings accounts, fund transfers, and foreign exchange allocation. Nevertheless, current development priorities remain centered on payment processing and settlement infrastructure. SBI Group continues blockchain-based financial innovation. This partnership reinforces SBI Group's broader involvement in cryptocurrency assets and tokenized financial products. Earlier in the current month, SBI Shinsei Bank introduced a promotional initiative featuring digital currency exchange certificates. Account holders could obtain certificates exchangeable for Bitcoin, Ether, and XRP via SBI VC Trade. In March, SBI VC Trade introduced a USDC lending program. This offering enables participants to deposit stablecoins with the platform to generate returns. Such developments demonstrate how SBI Group persistently expands its portfolio of compliance-focused cryptocurrency services. Japanese regulatory authorities have progressively refined digital asset frameworks as financial institutions explore tokenized payment solutions. Stablecoins have attracted considerable interest due to persistent challenges in cross-border payments, including elevated transaction fees and prolonged settlement periods. Through this partnership, SBI Remit and Fasset aim to construct infrastructure bridging conventional financial systems with compliant blockchain-based networks.

Tether has launched a gold-backed Visa card in partnership with digital banking platform Fasset, offering users 6% cashback in its XAUT stablecoin. One XAUT token represents one troy fine ounce of gold on a London Good Delivery bar. The card allows users to convert XAUT to USDT and then to fiat currency at point of transaction whilst earning cashback on eligible purchases. It includes an automatic round-up function that invests spare change from transactions in XAUT. The card operates on the Visa network and is integrated with Fasset's wallet infrastructure, with cashback flowing into users' wallets in real time. Tether CEO Paolo Ardoino said the initiative connects stablecoins and tokenised gold to real-world payment systems, making them usable and accessible in global transactions.

Tether launches gold-backed stablecoin Visa card with Fasset, offers 6% cashback in XAUT. The card converts digital assets like USDT to fiat at point-of-sale while rewarding users with tokenized gold stored in Swiss vaults. Just now ago Tether and digital banking platform Fasset have rolled out what they're calling the world's first gold-backed neobanking Visa card. The product lets users spend fiat converted from digital assets like USDT while earning up to 6% cashback in Tether Gold (XAUT), a token backed 1:1 by physical gold bars sitting in Swiss vaults. Tether is putting $1 million in XAUT behind the rewards program at launch. That's a meaningful commitment to prove the concept works, though it's a rounding error relative to USDT's circulation, which now exceeds $186 billion. How the card actually works. The Visa card integrates directly with Fasset's wallet infrastructure. When a user makes a purchase anywhere Visa is accepted, the card converts their digital assets to fiat at the point of sale in real time. The cashback component pays out in XAUT, and the card also features an automatic round-up function that invests spare change from transactions into XAUT, promoting what Tether describes as passive accumulation of gold assets. XAUT itself is backed by LBMA-certified physical gold bars. LBMA stands for the London Bullion Market Association, which sets the standard for gold bar quality and chain of custody. Each token represents one troy ounce of gold stored in Swiss vaults, giving users a claim on actual metal rather than a derivative or synthetic exposure. Fasset's role and the emerging market play. Fasset focuses on emerging economies across Asia and Africa, regions where traditional banking infrastructure remains patchy and gold already holds deep cultural significance as a store of value. The company reports an annualized volume of $32 billion, with 95% of that coming from real-world assets. The partnership also includes plans for co-branded gold ATMs in major cities, with Dubai mentioned as an early target. Fasset CEO Mohammad Raafi Hossain has emphasized the opportunity to scale digital gold adoption in markets where financial inclusion is still an active challenge. From store of value to spending money. Tether CEO Paolo Ardoino framed the launch as gold's evolution from a store of value to a medium of exchange. The card doesn't actually require users to spend their gold. They spend fiat converted from digital assets and earn gold as a reward. The XAUT accumulates passively, functioning more like a savings mechanism bolted onto a payments product than a true gold-as-currency play. The 6% cashback rate on eligible transactions is aggressive by any standard. Traditional credit cards in the US rarely exceed 2-3% on category spending. How sustainable Tether's rate will be once the initial $1 million rewards pool is depleted remains an open question. Disclosure: This article was edited by Editorial Team. For more information on how Cryptobriefing create and review content, see its Editorial Policy.