Thailand’s Securities and Exchange Commission (SEC) has officially approved Tether (USDT) and Circle (USDC) as trading pairs on regulated digital asset exchanges, marking a significant step in the country’s evolving cryptocurrency landscape.
The decision follows a public consultation in February, where a majority of respondents supported expanding the list of approved digital assets. The new rules will take effect on March 16.
Previously, the SEC had restricted trading pairs to a limited set of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Stellar (XLM), and certain tokens used in the Bank of Thailand’s settlement system. By adding USDT and USDC—the two largest stablecoins globally—the regulator aims to enhance liquidity and provide traders with more options in an increasingly competitive market.
Aligning with Global Crypto Trends
The inclusion of USDT and USDC reflects a broader global trend of stablecoins gaining mainstream acceptance due to their role in facilitating seamless transactions within the crypto ecosystem. Stablecoins are widely used for trading, remittances, and decentralized finance (DeFi), especially in emerging markets where access to traditional banking services is limited.
Currently, USDT holds a market capitalization of $142 billion, while USDC stands at $58 billion. The approval of these stablecoins in Thailand could boost their adoption in local financial systems, particularly in payment processing and cross-border transactions.
Tether welcomed the SEC’s decision, stating that it represents a step toward greater financial inclusion and regulatory clarity in Thailand. The company emphasized that regulatory support can lead to wider adoption of digital assets within traditional financial frameworks.
Strengthening Thailand’s Crypto Market
Thailand has been gradually positioning itself as a crypto-friendly nation, implementing regulatory measures to ensure a balance between innovation and investor protection. By recognizing stablecoins, the SEC is catering to growing demand among local traders while mitigating risks associated with volatile cryptocurrencies.
This regulatory shift could also attract more institutional investors and businesses looking for a stable medium of exchange in the region’s digital economy. Additionally, it aligns Thailand’s crypto policies with major financial hubs in Asia, Europe, and the United States, where stablecoins are increasingly being integrated into regulatory frameworks.
