Tether, the folks who brought you the stablecoin USDt (which your financially anxious uncle now won’t stop talking about), has decided Thailand needs a little more sparkle. So what do they do? They roll out their shiny superhero: Tether Gold. That’s right, digital bling. You can now officially flex online, thanks to a debut on the Maxbit exchange!
On May 13, Tether sauntered on stage to announce that its gold-backed marvel, Tether Gold (XAUt), scored a slot on Thailand’s Maxbit. And Maxbit? They couldn’t help but brag on X (because “Twitter” is so 2022): “First in Thailand with a tokenized gold pair! Yes, it’s actually backed by real gold—none of that chocolate coin nonsense.”
Need a refresher? Tether Gold burst onto the scene in January 2020 with about as much subtlety as a Vegas Elvis. Each XAUt is worth one full troy ounce of real gold. Forget those Monopoly bills in grandma’s drawer—here’s $802 million worth of digital gold swaggering through cyberspace.
Look Who’s Letting the Stablecoins In
Tether Gold isn’t crashing the Thai market solo. Nope, those stablecoin shenanigans have already gotten the green light. In March, Thailand’s Securities and Exchange Commission decided it was time to go from “Som Tum” to “some tokens” and welcomed US dollar-backed coins like Tether’s USDt and Circle’s USDC to play in the big leagues. It’s official: stablecoins can now strut their stuff on any regulated exchange across Thailand. Time to update your bingo cards!
By the way, Maxbit has been around since October 2023, which in crypto years is basically ancient. They’re a licensed digital asset exchange in Thailand, playing nice with the SEC. (Yes, Thailand’s SEC—they have one, we checked 🤓)
And if you’re wondering who’s actually behind Maxbit, it’s Thailand’s own PTG Energy running the show with a 35% stake. Spearhead Labs and Unit Company are nipping at their heels, holding 29% and 28.7%. It’s a regular “gold rush” over there—minus the mustaches and pickaxes.
This story is evolving faster than your cousin’s dogecoin portfolio. If Maxbit launches a diamond-backed token next, don’t say we didn’t warn you! 🥇🚀
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2025-05-13 13:26