Fasset Card
Fasset · Visa
Fasset Card is the Visa card from Fasset, a digital-asset neobank/exchange with a VASP license from Dubai's VARA. It lets users spend in fiat by converting assets such as USDT at 150M+ Visa merchants, with Apple Pay and Google Pay. Its flagship variant, launched with Tether, offers up to 6% cashback in Tether Gold (XAUT) plus a round-up that invests spare change into tokenized gold. Initially a custodial virtual card, it targets emerging markets across Asia, Africa and the Middle East with Islamic-finance (interest-free) principles.
The number that matters
The banner cashback isn't what you pocket.
After FX markup, fees and withdrawals, on an average profile of €1,000/mo (20% abroad).
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Network | Visa |
|---|---|
| Fund custody | Custodial (platform holds funds) |
| Issuance fee | €10 |
| Annual fee | Free |
| Free ATM limit | No ATM access |
| ATM withdrawal | Free |
| FX markup | 0% |
| Cashback | 6% in XAUT (Tether Gold) · Nessuno |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 3/10 |
| Supported countries | MENA, APAC |
| Funding / solidity | Fasset è una piattaforma di asset digitali con principi di finanza islamica, con sede a Dubai (EAU), focalizzata sui mercati emergenti di Asia, Africa e Medio Oriente. |
| Estimated net annual cost | €0/year |
| Regulator | VARA (Virtual Assets Regulatory Authority, Dubai) |
| Segment | B2C |
| Funding / solidity | Fasset is a digital-asset platform built on Islamic-finance principles, headquartered in Dubai (UAE), focused on emerging markets across Asia, Africa and the Middle East. |
| MiCA / License status | VARA VASP License (Fasset FZE, Dubai) Fasset FZE operates under a VASP license issued by VARA in Dubai (UAE). |
Strengths
- Up to 6% cashback in Tether Gold (XAUT), LBMA physical gold vaulted in Switzerland
- Regulated issuer: Fasset FZE with a VARA VASP license in Dubai
- Global Visa acceptance (150M+ merchants) with Apple/Google Pay; interest-free model
- No notable sovereignty advantage documented.
Weaknesses
- Custodial: assets held by the platform
- $9.99 issuance fee and FX markup not publicly disclosed
- Virtual-only card and no ATM access; limited geographic availability (APAC/MENA)
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Fasset FZE operates under a VASP license issued by VARA in Dubai (UAE).): reporting to authorities and freezes on order.
Verdict
Regulated issuer (Fasset FZE with a VARA VASP license in Dubai), but the model is custodial: assets are held by the platform and the user does not control the keys.
Low sovereignty: custodial wallet, full KYC and no key control. Suited to those seeking tokenized-gold cashback, not to those prioritizing self-custody.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
What cashback does the Fasset Card offer?
Up to 6% in Tether Gold (XAUT), with a round-up that auto-invests spare change from purchases into tokenized gold.
Is it regulated and custodial?
Issued by Fasset FZE, with a VARA VASP license in Dubai. The wallet is custodial: assets are held by the platform.
Sources
- Official service page Azienda info · Regulator · Supported currencies · Italia disponibile Data verified on Jun 23, 2026
- cryptobriefing.com Cashback · Valuta reward · Regioni · Regulatory framework · +1 Data verified on Jun 23, 2026
- todey.xyz Payment network · Custodial · Fees · Atm · +3 Data verified on Jun 22, 2026
- vara.ae Licenses & registrations · Paese · Azienda Data verified on Jun 22, 2026