Tether Gold Expands Asian Presence: Enters Thailand with Maxbit Listing, Broadening Access to Gold-Backed Digital Assets

Maxbit, a licensed digital asset exchange launched in October 2023 and regulated by the Thai Securities and Exchange Commission (SEC), is the first exchange in Thailand to offer trading pairs backed by physical gold, specifically Tether Gold, which represents ownership of one troy ounce of physical gold per token. Tether Gold currently has a global market capitalization of around $802 million.

The listing of Tether Gold on Maxbit follows Thailand’s regulatory approval of U.S. dollar-backed stablecoins earlier this year. In March 2025, the Thai SEC authorized stablecoins such as Tether’s USDt (USDT) and Circle’s USDC (USDC) for trading on regulated exchanges. This regulatory clarity has paved the way for introducing more diverse digital assets, including gold-backed tokens, within the country’s growing crypto ecosystem.

Maxbit’s ownership includes major Thai firms, with PTG Energy holding a 35% stake, followed by Spearhead Labs at 29% and Unit Company at 28.7%. This highlights the increased institutional interest in Thailand’s digital asset market. Additionally, Tether Gold is entering Thailand, allowing investors to access gold through a blockchain-based asset, combining the stability of physical gold with digital trading flexibility. This trend reflects the growing appeal of tokenized commodities as alternative investment options.

Notably, Tether’s financial performance in Q1 2025 highlights a significant operating profit of $1 billion, holding nearly $120 billion in U.S. Treasurys to back its stablecoin, USDT. Despite a slight decrease in excess reserves, the company saw a substantial increase in USDT supply and user wallets. Tether has been reinvesting capital into various tech sectors, while the stablecoin market, dominated by dollar-linked stablecoins, is projected for significant growth. 

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