{"id":847923,"date":"2025-05-13T09:11:49","date_gmt":"2025-05-13T14:11:49","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/13\/tether-gold-enters-thailand-with-listing-on-maxbit-exchange\/"},"modified":"2025-05-13T09:11:49","modified_gmt":"2025-05-13T14:11:49","slug":"tether-gold-enters-thailand-with-listing-on-maxbit-exchange","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/13\/tether-gold-enters-thailand-with-listing-on-maxbit-exchange\/","title":{"rendered":"Tether Gold enters Thailand with listing on Maxbit exchange"},"content":{"rendered":"
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Tether, issuer of the world\u2019s largest stablecoin, USDt, is rolling out its tokenized gold digital asset in Thailand with a listing on local cryptocurrency exchange Maxbit.<\/p>\n

In a May 13 announcement<\/a>, Tether said its gold-backed token, Tether Gold (XAUt), has been listed on Thai exchange Maxbit.<\/p>\n

According<\/a> to an X announcement by Maxbit, the platform is the first in Thailand to offer a \u201ctokenized gold pair backed by physical gold.\u201d<\/p>\n

Launched in January 2020, Tether Gold is a gold-backed digital asset<\/a> with a market cap of $802 million, with each XAUt representing ownership of one troy ounce of gold.<\/p>\n

Thailand greenlighted stablecoins like Tether USDt in March<\/h2>\n

Tether Gold\u2019s entrance in the Thai cryptocurrency market follows other notable stablecoin-related regulatory developments in the country.<\/p>\n

In March, the Thai Securities and Exchange Commission approved US dollar-backed stablecoins<\/a> such as Tether\u2019s USDt (USDT<\/a>) and Circle\u2019s USDC (USDC<\/a>) for cryptocurrency trades, allowing the stablecoins to be listed on regulated exchanges across Thailand.<\/p>\n

Major Maxbit shareholders. Source: Thai SEC<\/em><\/figcaption><\/figure>\n

Launched in October 2023, Maxbit is a licensed digital asset exchange based in Thailand, operating under the oversight of the Thai Securities and Exchange Commission (SEC).<\/p>\n

Related: <\/strong><\/em>Crypto exchange KuCoin enters crowded Thailand market<\/strong><\/em><\/a><\/p>\n

According<\/a> to official SEC records, Thai energy conglomerate PTG Energy is the largest shareholder of Maxbit, with a 35% stake in the firm. Other Maxbit backers include two local private firms, Spearhead Labs and Unit Company, holding 29% and 28.7% in the digital asset business.<\/p>\n

Maxbit yet to gain market share in Thailand<\/h2>\n

At the time of its Tether Gold listing, Maxbit had yet to emerge as a prominent cryptocurrency exchange in Thailand in terms of trading volumes.<\/p>\n

According to its website, Maxbit allows users to trade more than 80 cryptocurrencies, including Bitcoin (BTC<\/a>), Ether (ETH<\/a>) and USDT. The exchange had fewer than 300 subscribers on its X page at the time of publication.<\/p>\n

The exchange is not listed on major crypto data websites like CoinGecko<\/a> and CoinMarketCap<\/a>, with both sites referring to the local exchange Bitkub as the biggest Thai exchange with a market share of at least 75%.<\/p>\n

Bitkub\u2019s biggest trading pair is the USDT\/Thai baht pairing, which accounts for more than 30% of its daily trading volumes. The platform does not list any gold-backed tokens by publishing time, according<\/a> to CoinGecko.<\/p>\n

Market share of the four largest crypto exchanges in Thailand (2022 trading volume). Source: CoinGecko<\/em><\/figcaption><\/figure>\n

Cointelegraph approached Tether and Maxbit for comment regarding the Tether Gold listing but did not receive a response at the time of publication.<\/p>\n

Magazine: <\/strong><\/em>Finally blast into space with Justin Sun, Vietnam\u2019s new national blockchain: Asia Express<\/strong><\/em><\/a><\/p>\n