- Tether Gold (Xaut) is now in the Maxbit exchange in Thailand.
- Thai SEC agreed to dollars -backed Stablecoins in March 2024.
- Maxbit is supported by giant PTG for energy and other local companies.
Tether Gold (Xaut), which is digital gold backed, is now available for trading in Thailand through a new list on Maxbit, an exchange of licensed encryption by Thai. This announcement, which was released on May 13, is a major milestone for the paper because it expands gold -backed assets in the Southeast Asian market.
Maxbit, which was launched in October 2023, is organized by the Securities Committee and the Thai Stock Exchange (SEC). With this menu, Maxbit becomes the first Thai exchange that offers distinctive gold -bars -baccalaureate trading. Each xut symbol represents one x -ounce of gold stored in a safe Swiss cellar, giving investors a gold -backed digital exposure.
Tether Gold was originally launched in January 2020 and is currently carrying the maximum of the market about $ 802 million. With the increasing global demand for asset stable digital symbols, Tether’s decision to enter Thailand as a strategic step.
Organizational support sets the stage
The positive organizational environment in Thailand has facilitated the Tether growth path. In March, the Supreme Council for Thai Education approved the use of dollar -backed Stablecoins such as Tether’s Usdt and Circle’s USDC on Regulation exchanges. Organizational clarity was the basis for distinctive assets like Tether Gold to take off in the country.
Maxbit is supported by major investors from Thai companies, led by PTG Energy, a leading energy group with a 35 % stake on the stock exchange. Other investors are Spearder Labs and Al Wahda Company, with 29 % and 28.7 % classes, respectively. Their investments indicate an increase in institutional faith in the digital assets market in Thailand.
Being the first symbolic gold trading platform in Thailand, Maxbit seeks to deliver traditional asset investments with Blockchain technology. For Tether, the list not only expands access to the market but also follows the trends of diversifying digital assets and the asset symbol in the real world.
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