Tether Gold has officially entered the Thai market with its listing on the Maxbit exchange, which is backed by PTG Energy, a significant energy conglomerate in Thailand. Announced on May 13, Tether's gold-backed digital asset, Tether Gold (XAU₮), has become available on Maxbit, marking it as the first platform in Thailand to offer a tokenized gold pairing backed by physical gold. Tether Gold, launched in January 2020 and currently holding a market cap of $802 million, allows users to own one troy ounce of gold per token. This move comes after the Thai Securities and Exchange Commission approved the use of stablecoins like Tether USDt in March, paving the way for these digital assets to be listed on regulated exchanges in Thailand. Maxbit itself is a licensed digital asset exchange, officially launched in October 2023, with PTG Energy being its largest stakeholder.

Source 🔗