Michaela
Thailand’s Securities and Exchange Commission (SEC) has granted approval for Tether (USDt) and Circle (USDC) to be listed on regulated exchanges, marking a significant step for stablecoins in the country’s financial ecosystem.
Thailand’s SEC previously approved cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, and Stellar (XLM) for use in settlements by the country’s central bank. The latest decision to allow USDt and USDC follows a public consultation on regulatory updates, which were finalized in February and are set to take effect on March 16.
This decision aims to establish a strong regulatory framework that supports investors, businesses, and the overall financial ecosystem, while also positioning the country to drive innovation in digital assets.
“This will provide investors with greater flexibility and choice while fostering a more dynamic and resilient industry. By enabling the seamless integration of USDt, the decision supports the diversification and modernization of Thailand’s financial landscape,” Tether stated in a March 10 announcement.
Additionally, Tether noted that Thailand has become one of the most favorable regions for digital assets in recent years. The country now ranks in the top 20 worldwide for adoption, with USDt representing approximately 40% of trading volumes.
Paolo Ardoino, CEO of Tether, expressed the company’s deep appreciation for the Thai market and emphasized their ongoing efforts to expand and improve their services and offerings in the region.
“Our priority is to provide users in Thailand with a secure, transparent, and reliable stablecoin experience,” Ardoino stated. “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 by fostering a strong and sustainable stablecoin infrastructure,” he added.
This development follows reports that Tether is in discussions with U.S. Congressional lawmakers to help shape federal regulations for stablecoins.
The stablecoin issuer has reportedly been in talks with Representative Bryan Steil, chairman of the House Financial Services Subcommittee on Digital Assets, and Representative French Hill about the STABLE Act.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
