- The newly approved USD₮ accounts for approximately 40% of the local cryptocurrency trading volume.
- Clearer regulations are also expected to attract more businesses and individuals who want an easy connection between traditional money and digital currencies.
Thailand’s Securities and Exchange Commission has given the green light to USD₮, the world’s most-used stablecoin, marking a significant regulatory shift in the region’s digital asset market. With a market capitalization of $142 billion, USD₮ now joins a select group of approved cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, and stellar (XLM).
The USD₮ inclusion in Thailand’s market enhances market flexibility. Regulated exchanges in the region now can list USD₮ and accept it for payments across the country. The company views this approval as a major achievement, which will take effect on March 16, 2025.
Thailand Ranks Among Top 20 in Crypto Adoption
Thailand is on track for crypto-friendly jurisdiction, steadily gaining recognition globally among the growing crypto adoption. The country has now secured its ranking among the top 20 countries for crypto adoption. The newly approved USD₮ accounts for approximately 40% of the local cryptocurrency trading volume.
Paolo Ardoino, Tether’s CEO, stressed they really care about their business in Thailand and are always trying to make their services better. He pointed out that their main goal is to give a stable, clear, and dependable stablecoin experience in Thailand.
We highly value the Thai market and are continuously exploring ways to enhance our services and offerings. Our priority is to provide users in Thailand with a secure, transparent, and reliable stablecoin experience,
With the use of USD₮ in its financial environment, Thailand is updating its digital economy and giving investors more varied and stable choices. Clearer regulations are also expected to attract more businesses and individuals who want an easy connection between traditional money and digital currencies.
SEC Moves Toward Digitalized Trading Platforms
Beyond stablecoins, Thailand’s SEC is pushing broader blockchain integration within the financial sector. On February 3, the regulator announced plans to launch a blockchain-based trading platform to facilitate digital token transactions. This initiative aims to improve efficiency in capital markets and provide wider access to tokenized securities.
The upcoming system will fully digitalize bond trading, covering everything from investor registration to payments. While the SEC has not disclosed the specific blockchain networks involved, it confirmed that future interoperability standards will connect multiple chains, enhancing the flexibility of the country’s digital asset infrastructure.
Four tokenized projects have already been approved under the new framework, with two more under review. These initiatives primarily focus on green finance and investment-based digital assets, aligning with Thailand’s sustainability goals.
Tether views the approval as part of a major effort to link traditional finance with decentralized economies. Ardoino made it clear:
We are committed to supporting the long-term success and adoption of stablecoins in Thailand and look forward to contributing to the growth of the country’s digital asset ecosystem.
