Thailand SEC Approves USDC and USDT as Trading Pairs on Exchanges
Thailand's Securities and Exchange Commission (SEC) has approved Tether's USDT and Circle's USDC as trading pairs on digital asset exchanges. Previously, only bitcoin, ethereum, XRP, stellar (XLM), and select tokens from the Bank of Thailand were authorized.
The decision follows a public consultation in February where most respondents supported the proposal. The new regulations will take effect on March 16.
This move aligns Thailand with global trends recognizing the growing role of stablecoins in crypto trading and payments. Key facts include:
- USDT market cap: $142 billion
- USDC market cap: $58 billion
- Stablecoins are rapidly expanding, particularly in Southeast Asia, Africa, and Latin America
Tether stated that this approval enhances the acceptance of its token within Thailand's financial sector.