Global stablecoin issuer Tether has expanded access to its gold-backed digital asset in Thailand through a listing on cryptocurrency exchange Maxbit.
Tether Gold Now Available on Thai Exchange
On May 13th, Tether announced that its gold-pegged token Tether Gold (XAUt) began trading on Bangkok-based platform Maxbit. The exchange confirmed via social media that it's Thailand's first trading venue offering "tokenized gold pairs backed by physical bullion."
Key details about Tether Gold:
- Launched January 2020
- $802 million market capitalization
- Each XAUt token represents 1 troy ounce of physical gold ownership
- Redeemable for gold bars through Tether's Swiss storage partner
Thailand's Stablecoin Regulatory Milestones
This listing follows Thailand's March 2024 regulatory approval for stablecoin trading:
- Securities and Exchange Commission (SEC) authorized dollar-backed stablecoins (including USDT and USDC)
- Approved stablecoins may trade on regulated Thai exchanges
- Decision reflects growing institutional adoption of digital assets
👉 How gold-backed cryptocurrencies work
About Maxbit Exchange
Exchange Background:
- Founded October 2023
- Operates under Thai SEC supervision
Major shareholders include:
- PTG Energy (35%)
- Spearhead Labs (29%)
- Unit Company (28.7%)
Maxbit represents Thailand's evolving digital asset infrastructure, combining energy sector investment with fintech innovation.
FAQs
Q: Is Tether Gold available for physical redemption in Thailand?
A: Yes, XAUt holders can redeem for physical gold bars through Tether's Swiss vault partner, subject to minimum quantity requirements.
Q: What taxes apply to Tether Gold transactions in Thailand?
A: Thailand currently imposes 7% VAT on digital asset trades, though specific tax treatment for gold tokens remains under review.
Q: How does Tether Gold differ from gold ETFs?
A: Unlike traditional ETFs, XAUt enables 24/7 blockchain-based trading with direct gold ownership rights, eliminating fund management fees.
The integration of tokenized commodities like XAUt demonstrates Thailand's progressive approach to digital asset adoption while maintaining strong regulatory oversight.