Tether, a leading player in the digital asset space, has launched its Tether Gold (XAU₮) tokens on the Maxbit platform in Thailand, allowing local users to purchase gold in a digital format.
New Access to Tokenized Gold in Southeast Asia
Maxbit becomes the first Thai exchange supporting Tether Gold. The partnership offers local traders access to a blockchain-based product that reflects traditional gold ownership, making XAU₮ more accessible in Southeast Asia amidst rising demand for asset-backed tokens.
Full Gold Backing and Market Growth
Recently, Tether released its first attestation for XAU₮ confirming that each token is backed by physical gold. This information was shared in a post on social media, highlighting the company's commitment to product transparency. The token currently has a market capitalization of $802,457,504.
Thailand's Regulatory Climate Encourages Digital Innovation
Thailand's regulatory environment supports the entry of blockchain-based financial services. Recently, the Thai Securities and Exchange Commission recognized Tether's USD₮, promoting development and participation in digital asset markets. The launch of XAU₮ in Thailand fits into this overall digital strategy.
The partnership between Tether and Maxbit opens new opportunities for investors in Thailand, presenting tokenized gold as a stable tool amidst economic uncertainty.
