Nazia Saeed
Tether has expanded its gold-backed digital asset offering to Thailand through a new listing of Tether Gold (XAUt) on Maxbit, a local cryptocurrency exchange backed by leading Thai energy conglomerate PTG Energy. The move marks Tether’s latest effort to broaden the reach of its tokenized assets in Asia.
Announced on May 13, the listing of Tether Gold on Maxbit positions the platform as the first in Thailand to offer a trading pair backed by physical gold. Each XAUt token represents ownership of one troy ounce of physical gold, making it a popular choice for investors seeking a digital alternative to traditional gold markets. Tether Gold, launched in January 2020, currently holds a market capitalization of $802 million.
The timing of the launch aligns with recent regulatory advancements in Thailand’s cryptocurrency sector. In March 2025, the Thai Securities and Exchange Commission approved the use of U.S. dollar-backed stablecoins such as Tether’s USDt and Circle’s USDC for trading on regulated exchanges. These developments reflect Thailand’s growing openness to blockchain-based financial products, including tokenized commodities.
Maxbit, established in October 2023, operates as a fully licensed digital asset exchange under the supervision of the Thai SEC. The platform has quickly gained prominence, with PTG Energy emerging as its largest shareholder, holding a 35% stake. Additional support comes from local firms Spearhead Labs and Unit Company, which hold 29% and 28.7% stakes, respectively.
Tether’s launch of XAUt in Thailand not only diversifies investment options for Thai traders but also supports broader trends in the global crypto market, where tokenized assets and stablecoins are gaining traction among both retail and institutional investors. The integration of Tether Gold into a regulated trading environment in Thailand may pave the way for further adoption of digital commodities in Southeast Asia.
