Thailand SEC Approves USDT and USDC for Trading on Digital Asset Exchanges

On March 16, Thailand's Securities and Exchange Commission (SEC) expanded its list of approved cryptocurrencies to include Tether's USDT and Circle's USDC, the two largest stablecoins with market capitalizations of $142 billion and $58 billion, respectively. This decision, following a public consultation in February, aligns Thailand with global trends where stablecoins are increasingly important in crypto trading and payments. Previously, only bitcoin (BTC), ethereum (ETH), XRP, stellar (XLM), and certain tokens used in the Bank of Thailand's settlement system were approved. Tether stated that this approval paves the way for broader acceptance of USDT in Thailand's financial sector.