Tether Gold (XAU₮) Now Available on Maxbit, a Digital Asset Exchange in Thailand

Tether has announced that its gold-backed token, Tether Gold XAUT $3 252 24h volatility: 1.3% Market cap: $801.59 M Vol. 24h: $44.30 M

Tether's innovative gold-backed token, Tether Gold (XAUT), is now available on Maxbit, a digital asset exchange operating in Thailand. This marks the first time a Thai platform offers local investors the opportunity to engage with a digital token directly backed by real gold.

As reported by Benzinga, Tether announced the new listing in a recent press release. During a time marked by economic uncertainty, this move provides an interesting avenue for capital preservation.

The report highlights that Maxbit stands as the first exchange in Thailand to introduce Tether Gold. Each token represents one troy ounce of gold, fully backed and stored in a certified vault. This structure aims to provide the enduring value of gold with the speed and transparency of a digital asset.

The inclusion of Tether Gold on Maxbit also underscores Thailand's broader interest in digital finance. Notably, the country's SEC has revised its regulations for digital assets and cybercrime, aiming to curb mule accounts and restrict foreign peer-to-peer crypto platforms.

Furthermore, the Thai security agency recently approved USDt, another token issued by Teuther, attesting to its status as a cryptocurrency for digital transactions. This move adds an extra layer of trust and transparency for those engaging with cryptocurrencies in Thailand.

In a related development, the Deputy Prime Minister of Thailand announced plans to harness blockchain technology to support the tourism industry, especially in areas with limited banking infrastructure. This initiative aligns with the government's broader strategy to promote financial inclusion.

The introduction of Tether Gold on Maxbit also coincides with Tether's recent investment in Fizen Limited, a U.S.-based payment technology company. This investment is focused on expanding the utility of stablecoins and simplifying crypto payments for both consumers and businesses.