Tether Launches Tether Gold (XAUt) on Maxbit Exchange in Thailand

May 13, 2023 – Tether, a leading stablecoin issuer, has announced the launch of Tether Gold (XAUt) on Maxbit Exchange in Thailand. This marks the first time a tokenized gold asset, fully backed by physical gold, will be available for trading on a Thai digital asset platform.

Each token represents one troy ounce of actual gold, which is stored in a certified vault and regularly audited. The tokens are issued as ERC-20 assets on Ethereum chains, allowing for seamless transferability.

“We are excited to welcome Tether Gold (XAUt) to Maxbit Exchange,” says Charoen Chaiwong, CEO of Maxbit Exchange. “As the first digital asset platform in Thailand to list a tokenized gold asset, we are proud to offer investors a new and convenient way to invest in this precious metal.”

Investors can now use blockchain technology for direct access to a physical commodity, an option that has gained popularity in recent years.

The announcement highlights Tether’s expanding market reach and the growing demand for extra diversification benefits among investors. It also marks the introduction of a new asset to the Southeast Asian region, which is still developing its digital asset infrastructure.

Moreover, the launch of Tether Gold (XAUt) on Maxbit Exchange provides a simple and efficient method for including gold in crypto portfolios online.

“We are excited to see the launch of Tether Gold (XAUt) on Maxbit Exchange in Thailand,” said Paolo Ardoino, Chief Technology Officer at Tether. “We are always looking for new ways to expand our products and services to meet the needs of our users. We believe that Tether Gold (XAUt) will be a valuable addition to Maxbit Exchange’s offerings and will provide investors in Thailand with a unique and convenient way to invest in gold.”

Investors are increasingly seeking out assets that provide a hedge against inflation, and with a market cap above $770 million, Tether Gold (XAUt) has attracted attention in this regard.

The rapid shifts in global money and the ongoing instability in the market are also driving demand for Tether Gold (XAUt) tokens, as they allow users to trade gold instantly and in small amounts. This convenience contributes to greater liquidity compared to older gold funds.

However, the introduction of token trading also poses new digital risks, especially for those new to cryptocurrency in Southeast Asia. Users will need to familiarize themselves with the best practices for securing their wallets.

Overall, the digital model combines the stability of gold with the speed and efficiency of blockchain technology. Many investors view these tokens as a bridge between traditional financial assets and cryptocurrencies.

To mitigate user concerns, platforms can introduce new tiers for varying levels of risk appetite. Additionally, close cooperation with banking institutions is crucial for seamless integration into broader financial systems.

Investors can perform thorough risk checks and ensure clear rules are in place to minimize any worries.

Furthermore, strong partnerships between regulators and platforms are essential for building trust and facilitating the adoption of digital gold tokens among investors in Thailand.