The Thailand Securities and Exchange Commission (SEC) has approved Tether's USDT stablecoin, paving the way for its use in payments and trading in the country.
Regulatory Recognition of USDT
According to an official announcement from Tether, regulated exchanges in Thailand can now list USDT, which promotes greater use of stablecoins in financial transactions. The SEC decision followed a public feedback phase that ended in February, where public opinion was largely positive and instrumental to the approval. As a result, USDT and USDC have joined a list already including Bitcoin, Ethereum, Ripple XRP, Stellar XLM, and other cryptocurrencies used by the Bank of Thailand in its programmatic payment sandbox.
Tether's Reaction to the Approval
Tether has described the recognition of USDT as a significant milestone in the evolution of digital assets in the region. The firm noted that it can now integrate its stablecoins into Thailand's financial services. Tether CEO Paolo Ardoino stated that the company will continue to seek ways to improve the adoption of stablecoins in Thailand and contribute to the country's digital asset industry. "We highly value the Thai market and are continuously exploring ways to enhance our services and offerings," he added.
Strengthening Crypto Regulations in Thailand
This move also highlights Thailand’s pro-crypto efforts, with Southeast Asian countries leading in crypto adoption. USDT accounts for 40% of crypto trading volume in the region. Recently, the country updated its regulatory framework, lifting restrictions on how much retail investors can invest in digital assets backed by infrastructure or real estate, and requiring only reputable publicly listed companies to manage crypto wallets. Despite its openness to crypto, the country maintains its stance against approving spot Bitcoin ETFs.
Thailand’s recognition of USDT opens up new opportunities for stablecoin usage in financial transactions, solidifying the country's position as a hub for cryptocurrency activity in the region.
