The Thailand Securities and Exchange Commission (SEC) has officially approved Tether’s USDt (USDT) and Circle’s USD Coin (USDC) for cryptocurrency trading, permitting these stablecoins to be listed on regulated exchanges nationwide.
This approval follows a public consultation on proposed regulatory changes finalized in February, with the new regulations set to take effect on March 16. Prior to this development, the SEC had authorized only five cryptocurrencies for trading: Bitcoin (BTC), Ether (ETH), XRP (XRP), Stellar Lumen (XLM), and certain tokens utilized by the Bank of Thailand for settlement purposes.
The inclusion of USDT and USDC is anticipated to enhance liquidity in Thailand’s cryptocurrency market, providing more efficient and accessible digital asset transactions for investors and businesses.
Stablecoins like USDT and USDC have gained prominence as alternatives to traditional remittance methods, particularly in emerging markets. A December report by Chainalysis highlighted stablecoins as a “transformative” solution for cross-border payments, noting that in regions such as Sub-Saharan Africa, using stablecoins for remittances can be 60% cheaper than conventional methods.
Tether’s CEO, Paolo Ardoino, emphasized the company’s commitment to the Thai market, stating, “We highly value the Thai market and are continuously exploring ways to enhance our services and offerings. Our priority is to provide users in Thailand with a secure, transparent, and reliable stablecoin experience.”
As of March 2025, the total market capitalization of stablecoins stands at nearly $230 billion, with Tether’s USDt accounting for just over 63% of the market. Thailand’s proactive stance in integrating stablecoins into its financial ecosystem underscores the country’s commitment to embracing digital innovation while ensuring regulatory compliance.
