Tether Expands Its XAU₮ (Tether Gold) Token to the Maxbit Exchange in Thailand

Maxbit, a digital asset exchange operating in Thailand, has completed the listing of Tether Gold (XAU₮) on its platform.

This makes Maxbit the first exchange in Thailand to offer access to Tether’s tokenized gold product, which is backed 100% by physical gold held in London vaults. Each XAU₮ token represents ownership of one troy ounce of gold and offers all the benefits of traditional gold, such as stability and long-term value, while leveraging blockchain technology’s speed, transparency, and security.

This listing provides traders in Thailand with access to a globally recognized, gold-backed stablecoin that combines real-time asset verification with 24/7 market accessibility. As Thailand’s financial markets increasingly engage with digital innovation, XAU₮ presents a strategic hedge against inflation and economic uncertainty.

It enables users to diversify their portfolios with a tangible, time-tested store of value while maintaining constant liquidity through digital channels.

"We are pleased to see XAU₮ listed on Maxbit, making it the first platform in Thailand to offer access to our gold-backed digital asset," said Paolo Ardoino, CEO of Tether.

"Tether Gold combines the timeless value of physical gold with the efficiency and accessibility of blockchain technology, providing individuals with tools to preserve value and achieve long-term portfolio stability. As demand grows for users increasingly seeking resilient, asset-backed solutions, we believe XAU₮ will strategically meet these needs."

According to the Q1 2025 attestation report, XAU₮ has a market capitalization of $770.0 million and continues to grow amid the shifting monetary landscape. As of April 28, 2025, every XAU₮ in circulation is backed by an equivalent ounce of pure gold (246,523.33 ounces equivalent to more than 7.7 tons). Global economic instability, geographical tensions, and rising demands for inflation-resistant assets have driven this continued growth. XAU₮ offers an alternative to traditional gold products by allowing ownership and transfer on the blockchain.

This announcement also follows the Securities and Exchange Commission (Thai SEC) approval of USD₮ as a recognized cryptocurrency for digital asset transactions in Thailand. This move provides greater clarity for crypto traders and signals the country's willingness to integrate digital currencies into its financial ecosystem.

The approval follows a period of engagement between the SEC and industry stakeholders to evaluate and classify cryptocurrencies for use in accordance with Thai regulations.

With this development, Thailand is emerging as a regional hub for compliant, blockchain-based financial services. It also underscores the increasing mainstream adoption of digital assets across global markets.

In other developments, digital assets have experienced strong adoption across global markets, particularly in Asia, where demand for resilient, asset-backed digital currencies remains robust.

Complementing this momentum, the country's Deputy Prime Minister has announced plans to leverage cryptocurrencies and blockchain technology to support tourism. This initiative aims to promote financial inclusion for travelers, particularly in regions with limited access to traditional payment infrastructure.

Mr. Pokkhet Ratchakitprakarn, CEO of Maxbit Digital Asset Co., Ltd., stated that “Maxbit is fully committed to connecting Thai investors with global investment opportunities. We are pleased to launch XAU₮ on our platform, expanding investment options backed by real value and high stability, perfect for those seeking to diversify risk and invest in safe-haven assets.

We believe in offering products that meet the evolving needs of our users, and XAU₮ is a valuable addition to our portfolio of digital assets.”

The listing underscores Tether’s commitment to promoting financial inclusion and expanding global access to digital assets. By leveraging the power of blockchain, Tether is breaking down traditional barriers and enabling unrestricted access to opportunities across borders, ensuring that financial freedom and stability are no longer a privilege but a possibility for all.