Tether has officially launched one of its stablecoins, Tether Gold (XAUT), on Maxbit Exchange in Thailand. The move marks the first time Thai investors can access a tokenized ounce-for-ounce gold product via a local crypto platform.
XAUT is a tokenized gold-backed token issued and deployed on the Ethereum blockchain by Tether. The company claims it’s backed 1:1 by a troy ounce of London Good Delivery bar gold stored in Swiss vaults. According to Tether’s Q1 2025 attestation report, the company holds 246,523 ounces of physical gold, equating to over 7.7 tons.
Tether Gold Launches in Thailand
Tether claims its partnership with Thailand’s Maxbit to list XAUT seeks to offer Thai investors a strategic tool to preserve wealth and diversify portfolios. Users can combine gold’s time-tested stability with blockchain’s speed, transparency, and round-the-clock market access.
The move will reduce Thai investors’ barriers to investing in gold, as there will be no logistical rigors of physical storage or cross-border custody. Tokenized gold offers fractional ownership, enabling participants to buy and trade in small amounts. The initiative opens up greater access for users to the traditional safe-haven asset, gold. Paolo Ardoino, CEO of Tether, said:
“We are pleased to see XAUT listed on Maxbit, marking a significant milestone as the first platform to offer access to our gold-backed digital asset in Thailand.”
Notably, the move comes amid growing demand for digital products backed by resilient assets as global economic uncertainty drives users toward inflation hedges. XAUT has seen its market capitalization rise above $825 million since its initial issuance. It briefly peaked at $3,529 in late April, mirroring gold’s recent rally in commodity markets.
Listing Amid Regulatory Clarity
Tether’s latest move to list XAUT for Thai users follows Thailand’s Securities and Exchange Commission’s (Thai SEC) clarity on its crypto regulations. The regulator recently recognized the company’s U.S. dollar-pegged token (USDT) as an approved crypto for trading within regulated exchanges.
Growing regulatory clarity has increased investor confidence and positioned Thailand as a potential hub for compliant blockchain services in Southeast Asia. Moreover, the government has signaled interest in leveraging crypto to enhance tourism and financial inclusion. It aims to integrate digital payments into everyday transactions for locals and visitors.
Meanwhile, Tether is building out its institutional stablecoin offerings, notably exploring a new U.S.-based token tailored for institutions. It aims to speed up interbank settlements while maintaining regulatory compliance.
