Thailand SEC Approves USDT and USDC for Trading on Regulated Exchanges

On March 16, Thailand's Securities and Exchange Commission (SEC) officially approved Tether's USDT and Circle's USDC stablecoins for trading on regulated exchanges, following a public consultation in February. This decision expands Thailand's list of approved cryptocurrencies beyond Bitcoin, Ether, XRP, and Stellar. Tether CEO Paolo Ardoino emphasized the company's commitment to providing secure and reliable stablecoin services to Thai users. USDT, with a market cap of $142 billion, and USDC, valued at $58 billion, are now legitimized for use in Thailand's financial systems. This move aligns with global trends, particularly in emerging markets, where stablecoins are increasingly used for cross-border payments, offering up to 60% cost reduction compared to traditional methods in regions like Sub-Saharan Africa. Thailand had set up a regulatory sandbox in August 2024 to allow service providers to experiment with crypto technologies.