The Thai Securities and Exchange Commission Approves Tether and USD Coin for Digital Asset Transactions
The Thai Securities and Exchange Commission (SEC) has officially approved the use of Tether (USDT) and Circle’s USD Coin (USDC) in digital asset transactions. This decision allows these stablecoins to serve as base trading pairs on exchanges, support investments in Initial Coin Offerings (ICOs), and facilitate transactions through ICO portals.
Implementation Date and Reaction
The new rule, following a public hearing in February, will take effect on March 16. Tether CEO Paolo Ardoino welcomed the move, highlighting the company’s dedication to Thailand’s digital economy. He emphasized Tether’s commitment to providing a secure and transparent stablecoin experience while supporting the country’s digital asset ecosystem.
Thailand’s Crypto-Friendly Environment
Thailand has established itself as one of the most crypto-friendly nations, ranking among the top 20 in adoption. The SEC had previously limited the list of approved cryptocurrencies for ICO investments and exchange trading pairs, which now includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM), and select digital assets used in the Bank of Thailand’s Programmable Payment Sandbox.
Stablecoin Sector Expansion
The stablecoin sector is experiencing significant growth, with USDT and USDC dominating nearly 90% of the $227 billion market. Market analysts anticipate further expansion, especially as regulatory discussions progress.
President Donald Trump has set an August timeline for advancing regulatory clarity in the US, prompting traditional financial institutions to explore stablecoin integration. Major banking, payments, and fintech players are actively developing stablecoin-related services, indicating broader adoption across global finance.
For example, Bank of America is considering launching its stablecoin pending regulatory approval, Standard Chartered is working on a Hong Kong dollar-pegged stablecoin, and PayPal plans to expand its PYUSD offering in 2025. These developments demonstrate the growing acceptance of stablecoins in traditional finance, bridging the gap between conventional banking and digital assets.
