Thailand’s Securities and Exchange Commission (SEC) has officially approved Tether’s USDT (USDT) as a compliant crypto, allowing it to be traded within the country’s regulated exchanges. The regulator’s decision makes USDT an acceptable token for payments in the country, cementing the country’s position in the crypto industry.
Tether Bags Approval For USDT Amid European Hurdles
The updated regulations, set to take effect on March 16, 2025, aim to provide more options for investors and businesses engaging in digital transactions. It will potentially enhance the liquidity and stability of Thailand’s crypto market. Interestingly, the SEC had previously sought public feedback on these changes, finalizing them in February 2025.
Tether, the world’s largest company in the crypto industry, welcomed the decision, viewing it as an essential development in strengthening ties between traditional and decentralized economies. While emphasizing its commitment to fostering a reliable and transparent stablecoin ecosystem in Thailand, Paolo Ardoino, the company’s CEO, stated:
“We highly value the Thai market and are continuously exploring ways to enhance our services and offerings. Our priority is to provide users in Thailand with a secure, transparent, and reliable stablecoin experience.”
Notably, the approval comes amid Tether’s efforts to enhance its relationship with European regulators. The company faces challenges in the continent due to the Markets in Crypto-Assets (MiCA) regulation. The framework, which introduces mandatory transparency regarding reserve assets, prompts stablecoin issuers to gain authorization for operation within Europe.
USDT is not the First
Thailand is one of the most crypto-friendly jurisdictions, ranking among the top 20 countries in crypto adoption. USDT already accounts for approximately 40% of digital asset transaction volumes in the country, highlighting its role in the local market. With a market capitalization of $142 billion, USDT maintains its position as the most widely used stablecoin globally.
Nonetheless, The Thai SEC also officially approved USD Coin (USDC) alongside Tether (USDT) as compliant crypto for various uses within the country. The decision expands the list of approved digital assets, which previously included Bitcoin (BTC), Ether (ETH), Ripple (XRP), and Stellar (XLM).
Meanwhile, as Tether pursues regulator approvals, the stablecoin issuer is also actively diversifying its investment portfolio by venturing into sectors beyond the crypto industry. Notably, the company has proposed acquiring a majority stake in Adecoagro, a leading South American agro-industrial firm, as it secured a minority stake in Italy’s Juventus Football Club.
