Thailand SEC Approves USDT and USDC on Local Exchanges
Date: 2025-03-12 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS, IN WORLD
Under the new rules, which come into effect on March 16, 2025, stablecoins from Tether and Circle will be approved for trading on exchanges, making them easier to list and accessible to local users. In particular, they will be able to be used as underlying assets in trading pairs and for participation in initial coin offerings (ICOs).
Until now, the list of approved cryptocurrencies only included Bitcoin, Ethereum, XRP, and Stellar (XLM). With the addition of USDT and USDC to this list, the number of assets approved for trading has increased to six, significantly expanding the options for crypto investors and traders on local platforms.
However, it is worth noting that cryptocurrencies are still not allowed to be used as a means of payment in Thailand. However, the authorities have announced the launch of a pilot project in Phuket, which will begin in the summer of 2025. As part of this project, tourists will be able to pay for goods and services using cryptocurrencies, but to do so, they will have to go through the registration and identification procedure on the local exchange, including the mandatory KYC procedure.
Representatives of the Tether company expressed hope that this initiative could lead to the possible introduction of USDT as a means of payment in Thailand in the future. If the pilot project is successfully launched, Thailand could become one of the first Asian markets where stablecoins will be used for everyday payments.
