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Tether’s USDT has been formally certified by Thailand’s Securities and Exchange Commission (SEC), becoming the first stablecoin to be recognized by the government. This action strengthens Thailand’s position as a major participant in the adoption of digital assets by enabling USDT to be lawfully exchanged on regional exchanges and possibly used as payment.
The decision will go into effect on March 16 and comes after a lengthy public consultation. With USDT already controlling around 40% of Thailand’s cryptocurrency trading volume, stablecoins are now even more integrated into the country’s financial system thanks to its acceptance.
Tether CEO Paolo Ardoino welcomed the decision, emphasizing its significance for stablecoin adoption in the region.
“We highly value the Thai market, and our priority is to provide users in Thailand with a secure, transparent, and reliable stablecoin experience. We are committed to supporting the long-term success and adoption of stablecoins in Thailand and look forward to contributing to the growth of the country’s digital asset ecosystem.”
Thailand’s recognition of USDT strengthens its reputation as a crypto-friendly jurisdiction. The move also sets a precedent for other nations exploring stablecoin regulation, bridging the gap between traditional finance and decentralized digital assets.