Tether Lists Gold-Backed Token XAU₮ on Thai Exchange Maxbit

Tether, the issuer of the widely-used stablecoin USDT, has expanded its offerings by listing its gold-backed token, Tether Gold (XAU₮), on the Thai cryptocurrency exchange Maxbit. This move marks a significant development in the region's digital asset landscape, providing investors with a new avenue to access gold through blockchain technology.

Tether Gold (XAU₮) is a stablecoin fully backed by physical gold, with each token representing one troy ounce of the precious metal. This listing on Maxbit allows Thai investors to trade the token 24/7, offering a secure and liquid digital asset for wealth protection and diversification. The token's backing by physical gold makes it an attractive option for investors seeking to hedge against inflation and market volatility.

Paolo Ardoino, the CEO of Tether, highlighted the growing demand for secure digital asset solutions. He emphasized that Tether Gold is an ideal tool for investors looking to protect their assets and ensure long-term financial stability. The listing on Maxbit caters to this demand, providing Thai investors with a reliable and accessible means to invest in gold.

Thailand has been increasingly supportive of cryptocurrencies, with USDT being widely recognized in the country. The listing of Tether Gold on Maxbit further solidifies Thailand's position as a crypto-friendly nation. This development is particularly significant for the country's tourism economy, which could benefit from the increased interest in digital assets. By offering Tether Gold, Thailand is taking a step closer to becoming a leading cryptocurrency hub in Asia, attracting global investors and expanding its digital asset market.

Maxbit has become the first exchange in Thailand to issue XAU₮, making it convenient for local investors to obtain access to gold in digital form. The token's 24/7 availability and blockchain technology provide enhanced transparency, safety, and speed compared to conventional gold investments. This move aligns with Thailand's enthusiasm to embrace digital innovation and the growing demand for inflation-resistant assets in the region.

The listing of Tether Gold on Maxbit is a strategic leap for both Tether and Thailand's digital finance sector. It enhances Tether’s international financial inclusivity provision and introduces Thai investors to trusted blockchain-enabled gold. This development signifies the direction in which the world of digital and traditional finance is headed, with Thailand leading the way in integrating digital assets into everyday life.

Pokkhet Ratchakitprakarn, CEO of Maxbit, expressed excitement about providing new investment instruments with real-world credentials. He noted that XAU₮ would be particularly appealing to individuals seeking low-risk, high-stability investments. The collaboration between Tether and Maxbit underscores the growing synergy between blockchain technology and traditional financial assets, offering investors a secure and efficient way to diversify their portfolios.

The market capitalization of XAU₮ is currently $770 million, fully collateralized by 7.7 tons of gold, which is more than 246,000 ounces. This backing makes XAU₮ one of the most credible and secure digital gold assets available in the market today. The listing on Maxbit is expected to further boost the token's credibility and attract more investors to the digital gold market.

Thailand's Securities and Exchange Commission (SEC) recently approved the regulated trading of Tether’s USD₮ stablecoin, as well as digital transactions in the country. This decision has made Thailand a regional leader in blockchain laws, making the financial world more appealing to businesses such as Tether to grow and increase their products. The government of Thailand has also been vocal about blockchain facilitating tourism as well as financial inclusion, with plans being developed to support crypto transactions for tourists, particularly in remote areas where banking is limited.