Thailand has made history by approving USDT (Tether) for trading and payments. Thailand’s Securities and Exchange Commission (SEC) last week made the decision to allow the world’s largest stablecoin USDT on regulated exchanges and for transactions in the country.
Most people had backed the idea, the approval followed a public consultation. Now, USDT is among the cryptocurrencies that are approved by the platform such as Bitcoin (BTC), Ethereum (ETH), XRP and Stellar (XLM). These rules will come into force on March 16, 2025.
This decision thrills Tether, the company behind USDT. We highly value the Thai market and are totally committed to offering USDT safe and reliable for all our users, he said. The approval solidifies Thailand’s status as a digital asset adoption leader.
For a long period of time, Thailand has proven itself to be a crypto friendly country and is considered among the first 20 countries in the world for digital asset usage. With its official recognition, USDT should debut with up to 40% of the crypto trading volumes so far recorded in the country.
It also indicates that Thailand intends to adopt blockchain and digital finance because of this move. Stablecoins are creating clear rules under which the country can set an example to other nations to attract more investment and innovation for cryptocurrencies.
This approval brings Thailand closer to the future of digital finance by letting businesses and investors use cryptocurrencies for routine purchase.
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