Tether, giving the world’s largest stablecoin, USDT, rolled into a tokenized digital digital asset in Thailand with a list at the local cryptocurrency exchange Maxbit.
On one May 13 announcementTether said the token supported by gold, Tether Gold (XAUT), was listed at the Thai exchange Maxbit.
According to In Maxbit’s X announcement, the platform was the first in Thailand that offered a “tokenized pair of gold supported by physical gold.”
Launched in January 2020, Tether Gold is a golden digital possession Through a market cap of $ 802 million, with each XAut representing the owner of a troy ounce of gold.
Thailand GreenLighted Stablecoins like Tether USDT in March
The entry of Tether Gold into the Thai cryptocurrency market adheres to other known developments associated with stablecoin regulation in the country.
In March, the Thai Securities and Exchange Commission US Dollar approved supported by Stablecoins As Tether’s USDT (USDT) and USDC of the Circle (USDC) for cryptocurrency trading, which allows stablecoins listed in regulated exchanges throughout Thailand.
Launched in October 2023, Maxbit is a licensed digital asset exchange based in Thailand, which operates under the supervision of Thai Sec.
According to In official SEC records, the Thai Energy Conglomerate PTG Energy is Maxbit’s largest shareholder, with a 35% stake in the firm. Other Maxbit supporters include two local private companies, Spearhead labs and unit companies, holding 29% and 28.7% in the Digital Asset business.
This is a story development, and further information will be added as it is available.
Magazine: Finally exploded in space with Justin Sun, Vietnam’s new national blockchain: Asia Express
