Tether Gold (XAUt) Debuts on Maxbit Exchange, Bringing a Glittering New Investment Option to Thai Crypto Traders

Thai crypto traders gained a glittering new investment option Tuesday when Tether Gold (XAUt), a digital token representing physical gold stored in Switzerland, debuted on local exchange Maxbit.

Thai crypto traders now have a glittering new investment option. Tether Gold (XAUt), a digital token backed by physical gold and issued by Tether, has debuted on Maxbit, a local cryptocurrency exchange operating in Thailand.

Each XAUt token represents one troy ounce of physical gold, stored in Swiss vaults and allowing investors to access gold through blockchain technology without needing to own the actual metal. The token’s global market value currently sits at about $802 million.

“We are pleased to see XAUT listed on Maxbit, marking a significant milestone as the first platform to offer access to our gold-backed digital asset in Thailand,” said Paolo Ardoino, Tether CEO, in the official announcement.

“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.”

The listing follows recent regulatory developments in Thailand regarding digital assets. In March 2025, the Thai Securities and Exchange Commission (SEC) approved dollar-backed stablecoins like Tether’s USDt and Circle’s USDC for trading on regulated exchanges.

This regulatory clarity opened the door for more diverse digital assets in Thailand’s growing crypto ecosystem, including gold-backed tokens.

Maxbit, which started operating in October 2023, operates under Thai SEC oversight. The exchange has backing from major Thai companies—energy company PTG Energy owns 35%, while Spearhead Labs holds 29%, and Unit Company has 28.7%.

Tether Gold’s entry into Thailand signals growing interest in assets that might hold value against inflation. According to Tether’s Q1 2025 attestation report, the company holds 246,523 ounces of gold (about 7.7 metric tons) backing the token supply.

Thailand has been aiming to create a comprehensive legal framework for digital assets, striking a balance between encouraging innovation and safeguarding investors. Recent amendments to the Digital Asset Business Act and Cybercrime Law aim to strengthen oversight of crypto-related activities while supporting the market’s growth.

While Maxbit becomes the first exchange in Thailand to offer a gold-backed token, the market faces competition. Bitkub remains Thailand’s largest crypto exchange, handling about 75% of trading volume.

This listing also marks Tether’s expansion beyond its main product, the USDt stablecoin. The company reported a Q1 2025 operating profit of $1 billion and holds nearly $120 billion in U.S. Treasurys backing its stablecoin reserves.

For Thai investors, the gold-backed token provides a new investment option combining traditional value storage with digital trading flexibility as the country’s crypto market continues to mature under increasingly defined regulations.