Thailand’s Securities and Exchange Commission (SEC) has expanded its list of approved cryptocurrencies to include Tether’s USDT and Circle’s USDC. These stablecoins, with market caps of $142 billion and $58 billion respectively, will be available as trading pairs on digital asset exchanges starting March 16. Previously, only bitcoin, ethereum, XRP, stellar, and certain tokens used in the Bank of Thailand’s settlement system were approved. The decision follows a public consultation in February where most respondents supported the inclusion of these stablecoins. This move aligns Thailand with global trends where stablecoins are increasingly vital for crypto trading and payments, especially in developing regions like Southeast Asia, Africa, and Latin America. Tether sees this approval as a step towards broader acceptance in Thailand’s financial sector.
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