Tether has entered the Thai market with its tokenized gold asset, as local exchange Maxbit becomes the first in the country to list the product.
The listing of Tether Gold (XAUt) on Maxbit marks a key milestone in the asset’s global rollout. XAUt is a blockchain-based token pegged to physical gold, with each unit representing one troy ounce held in custody. As of now, the asset has a market capitalization of just over $800 million.
The announcement comes shortly after Thailand’s regulators approved certain stablecoins for use in the domestic crypto sector. In March, the Thai Securities and Exchange Commission gave the green light for dollar-pegged stablecoins such as USDT and USDC to be used for trading on licensed digital asset platforms. This opened the door for Tether to expand beyond its core product.
Maxbit, which officially launched operations in late 2023, is one of Thailand’s regulated cryptocurrency exchanges. The firm operates under Thai SEC supervision and has backing from major local companies. PTG Energy, a prominent Thai energy conglomerate, holds the largest stake in Maxbit at 35%. Other investors include Spearhead Labs and Unit Company, with nearly equal shares.
With its gold-backed token now live on Maxbit, Tether is signaling a broader strategy to diversify stable asset offerings in regions with growing regulatory clarity. The listing also positions Maxbit as a pioneer among Southeast Asian exchanges by supporting physically backed tokenized commodities.
California is pushing forward a legislative plan that could redefine how the state handles inactive crypto holdings.
Circle, the company behind the USDC stablecoin, has raised more than $1.1 billion in a highly anticipated IPO, outperforming its earlier fundraising targets.
Steve Eisman, the famed investor known for forecasting the 2008 housing collapse, is sounding the alarm—not on overvalued tech stocks or interest rates, but on the escalating risk of global trade disputes.
Kevin Hassett, head of the National Economic Council in Trump’s second term, has revealed a multi-million-dollar investment in crypto exchange Coinbase—prompting concerns over potential conflicts of interest in Washington.