Thailand's SEC Approves USDC and USDT for Digital Asset Trading
Thailand's financial regulator adds USDC and USDT stablecoins to its approved cryptocurrency list, expanding options for digital asset trading.
Overview
Thailand’s Securities and Exchange Commission (SEC) has added Tether’s USDT and Circle’s USDC to its list of approved cryptocurrencies for trading on digital asset exchanges. This decision will take effect on March 16, following a public consultation held in February, which saw strong support for the initiative.
Key Points
- The approval aligns with global trends regarding the significance of stablecoins in crypto trading and payments.
- Previously, only Bitcoin (BTC), Ethereum (ETH), XRP, Stellar (XLM), and certain Bank of Thailand tokens were approved.
Implications
This move is expected to broaden acceptance of USDT and USDC in Thailand’s financial sector, coinciding with increasing demand for stablecoins in emerging markets like Southeast Asia, Africa, and Latin America.
The market capitalizations are $142 billion for USDT and $58 billion for USDC.
For additional details, visit Tether’s announcement.
Disclaimer: Parts of this article were generated with AI tools and reviewed for accuracy.
