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Tether, the world’s largest issuer of Stablecoin, is launching its marked gold digital assets in Thailand and listing it on the local cryptocurrency exchange Maxbit.
On May 13 announcementTether said its gold token, Tether Gold (XAUT), is listed on Thai Exchange Maxbit.
according to In Maxbit’s X announcement, the platform is the first in Thailand to offer a “marked gold pair backed by physical gold.”
Launched in January 2020 Tether Gold is a digital asset for gold medals The market capitalization is $802 million, and each XAUT represents ownership of one ounce of gold.
Thailand’s green stablecoin is like the March Tether Usdt
Tether Gold’s entrance to Thailand’s cryptocurrency market follows other obvious regulatory developments in the country related to Stablecoin.
In March, the Securities and Exchange Commission of Thailand Approved dollar-backed stablecoins For example, Tether’s USDT (USDT) and Circle’s USDC (USDC) For cryptocurrency transactions, stablecoins are allowed to be listed in regulated exchanges in Thailand.
Launched in October 2023, Maxbit is a licensed digital asset exchange operating under the supervision of Thailand.
according to In official SEC records, Thai energy group PTG Energy is the largest shareholder of Maxbit, which owns 35% of the shares. Other MaxBit supporters include two local private companies, Spearhead Labs and Unit Companies, which hold 29% and 28.7% stakes in the digital asset business.
This is a developing story and will add more information when it is available.
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