Thailand’s Securities and Exchange Commission (SEC) has greenlit two of the world’s largest stablecoins, USDC and USDT, for trading and investment activities starting March 16, 2025. The decision follows an extensive public consultation conducted in February 2025 and expands Thailand’s list of approved cryptocurrencies from five to seven.
The approval marks a significant milestone for Thailand’s digital asset ecosystem, with USDT and USDC boasting market capitalizations of $142 billion and $58 billion respectively. These stablecoins will join the ranks of previously approved cryptocurrencies, including Bitcoin, Ethereum, Ripple, Stellar, and tokens used in the Bank of Thailand’s settlement system. The stakeholder feedback process played a crucial role in shaping this regulatory decision. Regular audits help maintain investor confidence in these fiat-backed stablecoins.
Thailand’s crypto landscape expands as USDT and USDC join Bitcoin and Ethereum among SEC-approved digital assets for trading and investment.
The new regulatory framework allows for diverse applications of these stablecoins, from ICO investments to trading pair bases on digital asset exchanges. This move positions Thailand, already ranked 10th globally in crypto adoption, as an increasingly attractive destination for digital asset businesses. The introduction of a regulatory sandbox in August 2024 paved the way for select service providers to test their operations.
Stablecoins have emerged as the fastest-growing sector in the crypto space, with particular resonance in developing regions. By December 2024, the sector had attracted 28.5 million unique users worldwide, with Southeast Asia, Africa, and Latin America showing especially strong interest. These digital assets have become popular alternatives to traditional remittance systems, offering faster and often more cost-effective solutions.
The industry response has been significantly positive, with Tether CEO Paolo Ardoino publicly welcoming the approval. While Circle, USDC’s issuer, has maintained silence on the development, crypto exchanges across Thailand are already preparing their systems for integration, anticipating increased trading volumes and new stablecoin-based financial products.
Thailand’s decision aligns with global trends in stablecoin regulation and could influence other Southeast Asian regulators. The move demonstrates Thailand’s commitment to maintaining its position as one of the world’s most crypto-friendly nations while ensuring appropriate oversight of digital assets.
This balanced approach to regulation suggests a mature understanding of both the opportunities and responsibilities that come with embracing digital currency innovation.
