Tether Gold Now Available on Maxbit, First Thai Exchange to Offer It
Tether has launched its gold-backed token, Tether Gold (XAUT), on Maxbit, a Thai digital asset exchange, marking the first availability of such a token in Thailand. Key points include:
- Maxbit is the first platform in Thailand to offer Tether Gold.
- XAUT represents one troy ounce of gold stored in secure vaults.
- Launch provides Thai investors with a new way to protect investments amid economic uncertainty.
- Tether Gold combines traditional gold ownership with blockchain technology, enhancing transaction speed and transparency.
- The token is backed by over 246,000 ounces of gold, valued at $770 million.
- This listing aligns with Thailand's increasing interest in digital finance and regulatory updates.
- The Thai SEC has revised regulations to enhance crypto market integrity.
- Tether’s USD₮ token has also received approval for digital transactions in Thailand.
- Maxbit aims to provide trusted investment tools through the addition of Tether Gold.
- Tether is making strategic investments to promote stablecoin adoption globally.
Paolo Ardoino, CEO of Tether, emphasized that XAUT meets demand for solid investment options during shifting economic landscapes.