Tether’s $770M Gold-Backed Token XAU₮ Debuts On Thai Alternate Maxbit

Thai merchants received their first style of tokenized bullion on Might 13 when Tether, the issuer of the most important stablecoin, USDT, unveiled its gold-backed token, Tether Gold (XAU₮), on Maxbit.

The itemizing marks a step ahead for the Thai market, making Maxbit the primary trade within the nation to supply direct entry to tokenized bodily gold. Every XAU₮ token represents possession of 1 troy ounce of bodily gold, totally backed and saved in safe vaults.

Tether Gold Debuts on Thailand Alternate Maxbit Amid Rising Demand for Asset-Backed Tokens

Holders of XAU₮ can switch tokens by way of ERC-20 wallets and, beneath particular situations, redeem them for bodily gold, preserving the underlying worth whereas leveraging the pliability of blockchain infrastructure.

In line with Tether’s Q1 2025 attestation report, greater than 246,500 ounces or roughly 7.7 metric tons of gold again the circulating provide, giving the token a market capitalization of roughly $770 million as of April.

The itemizing follows a March 2025 resolution by the Thai Securities and Alternate Fee (SEC) to approve the usage of USD-backed stablecoins reminiscent of Tether’s USDT and Circle’s USDC for crypto buying and selling throughout the nation.

This regulatory shift has opened the door for broader participation in digital asset markets, together with these anchored to real-world belongings.

Maxbit, in its official X announcement, described the itemizing as the primary in Thailand to function a “tokenized gold pair backed by bodily gold.”

Tether Gold, initially launched in January 2020, now joins the roster of regulated, asset-backed tokens accessible to Thai traders looking for a digitally native but historically valued asset.

Thailand Tightens Grip on Crypto Crime Whereas Advancing Digital Asset Framework

Thailand is quickly positioning itself as a regional chief in digital asset regulation, balancing growth with enforcement by way of sweeping authorized reforms and enhanced oversight.

Because the nation integrates cryptocurrencies into its monetary system, the Thai Securities and Alternate Fee (SEC) continues to license exchanges, custodians, and brokers, constructing a clear and safe setting for retail and institutional traders.

Latest legislative amendments accredited by Thailand’s Cupboard point out an escalation within the struggle towards crypto-related crimes.

These updates to the Digital Asset Enterprise Act (2018) and Cybercrime Regulation (2023) search to clamp down on illicit actions, notably these involving mule accounts and overseas crypto platforms used for cash laundering.

As soon as enacted, the legal guidelines will empower regulators to dam suspicious web sites and apps, whereas imposing stricter penalties on individuals who use crypto accounts for cybercrime, together with as much as three years in jail or fines of 300,000 baht (round $8,700).

The brand new framework may also see Thailand launch a nationwide blacklist of crypto wallets linked to fraudulent exercise, stopping flagged accounts from transacting additional.

Digital asset companies should now adjust to extra rigorous necessities, reminiscent of enhanced person screening, immediate suspension of questionable transactions, and collaboration with authorities to assist victims.

Accountability for stopping cybercrime may also prolong to banks, telecom operators, and social media platforms, which could possibly be responsible for damages in the event that they fail to satisfy the tightened requirements.

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