Thailand’s Securities and Exchange Commission (SEC) has officially approved Tether’s USD₮ (USDT) and Circle’s USD Coin (USDC) as regulated cryptocurrencies, effective March 16, 2025. This approval allows these stablecoins to be traded on licensed exchanges and used for payments within Thailand.
Previously, the SEC’s list of approved cryptocurrencies included Bitcoin (BTC), Ethereum (ETH), XRP, Stellar Lumens (XLM), and select tokens used in the Bank of Thailand’s settlement system. The inclusion of USDT and USDC reflects Thailand’s recognition of stablecoins’ growing importance in digital asset trading and payments.
Stablecoins like USDT and USDC provide price stability by being pegged to traditional fiat currencies, serving as a bridge between conventional finance and digital assets. Tether’s USDT, with a market capitalization of approximately $142 billion, and Circle’s USDC, valued at around $58 billion, dominate the stablecoin market.
Paolo Ardoino, CEO of Tether, welcomed the SEC’s decision, reaffirming the company’s commitment to providing Thai users with a secure and transparent stablecoin experience. He emphasized Tether’s dedication to supporting stablecoin adoption in Thailand by fostering a robust and sustainable infrastructure.
Thailand is one of the world’s most crypto-friendly nations, ranking among the top 20 in digital asset adoption. USDT accounts for approximately 40% of the country’s cryptocurrency trading volume, underscoring its pivotal role in Thailand’s financial ecosystem.
The SEC’s approval of USDT and USDC is part of Thailand’s updated digital asset regulations, designed to provide greater flexibility for crypto-related businesses. This regulatory clarity is expected to attract further investment and innovation, strengthening Thailand’s position as a leader in digital asset integration.
As stablecoins gain traction globally, Thailand’s proactive approach sets a model for other nations considering similar regulatory frameworks. The recognition of USDT and USDC not only facilitates crypto trading but also positions stablecoins as viable alternatives for cross-border transactions, particularly in emerging markets where they offer cost-effective remittance solutions.
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Disclaimer:
The information provided in this article is based on current developments and is subject to change. Readers are advised to consult official sources and seek professional advice before making any financial decisions.
