The Thailand Securities and Exchange Commission granted Tether USDt and Circle USDC permission for cryptocurrency trading so approved exchanges nationwide can list them. The Thailand Securities Commission modernized digital asset rules in February after adopting them on March 16 to develop national financial systems that embrace cryptocurrency usage.
The SEC approval extends Thailand’s current financial market regulation. Trading permission for cryptocurrency used to be limited to Bitcoin, Ether, XRP, Stellar Lumen, plus assets tested by Bank of Thailand. Thailand recognizes how stablecoins support global finance and makes USDt and USDC legal as it positions itself to benefit from their currency stability features.
Businesses around the world now use stablecoins to perform money transfers because these digital tokens work better than regular remittance services in developing markets. International payments with stablecoins became cheaper as shown by Chainalysis in their report which they published in December 2024.
Thai SEC Endorses USDt, USDC
They discovered stablecoins enabled faster and more affordable cross-border payments than regular banking procedures. Organizations and individuals new to financial systems choose stablecoins because they save money effectively.
The a16z Crypto venture capital firm detected stablecoin transactions from 28.5 million authenticated users in December amounting to 600 million transactions. The fast growth of stablecoins has not yet reached a significant market share since the total global payments sector handles 3.4 trillion transactions yearly.
The entire stablecoin system holds $230 billion in circulation according to DeFiLlama’s information. Under DeFiLlama data USDt holds more than 63% of the entire stablecoin market value. Thailand joins the financial sector growth by allowing USDt and USDC usage which helps people conduct stable digital payments for business and individual transactions.
Thai SEC Endorses Stablecoins
The new move brings aligned digital assets into Thailand’s legal financial system using modern methods to protect customers. During August 2024 Thailand started providing special testing rights for specific financial institutions to experiment with cryptocurrency-based solutions. The government supports stablecoins because they can make digital transactions better while letting people trade between countries easier.
After the March 10 release Tether declared that USDt qualification opens doors for digital financial usage and acts as a payment system throughout Thailand. When stablecoins function on regulated exchanges people will be more likely to use crypto-based payments across Thailand.
The Thai government now includes more digital assets in its approved list of cryptocurrencies because other nations worldwide adopt steady guidance for digital assets. Despite other governments showing wariness about stablecoins for safety and crime problems Thailand demonstrates their belief in these digital tokens as economic boosters.
Thai officials encourage regional nations to follow this lead by opening up digital currencies for trade on authorized cryptocurrency exchanges. Officials will watch in the upcoming period to understand how this license affects local cryptocurrency use plus household and company payments.
