Tether has introduced its gold-backed token XAU₮ on Thailand's Maxbit exchange on May 13, 2025. This marks a significant event for the digital asset market in the country.
First gold-backed token in Thailand
The launch of the XAU₮ token in Thailand on the Maxbit exchange highlights the growing acceptance of digital assets in the country, positioning it as a potential leader in blockchain-based services. CITE_NA: "The listing of Tether Gold on Maxbit reflects Thailand's growing acceptance of digital assets backed by real-world value."
XAU₮ backed by over 7.7 tons of gold
The XAU₮ token launched on the Maxbit exchange is now backed by over 7.7 tons of pure gold, enhancing its market value. Maxbit is a regulated digital asset exchange supported by significant institutional investors, aligning with recent regulatory changes in Thailand allowing cryptocurrencies.
Attracting institutional investors in Thailand
The introduction of the XAU₮ token provides stablecoin investors in Thailand with a gold-backed option, potentially boosting cryptocurrency adoption in the region. It is expected that XAU₮ will attract institutional investors seeking a regulated digital pathway to gold-backed assets, promoting diversification in the financial landscape.
The launch of Tether Gold XAU₮ in the Thai market demonstrates the country's adaptation to digital assets and confirms its standing in blockchain technology.
