Tether Gold Launches in Thailand with Maxbit Exchange Listing

Tether Gold Enters Thai Market via Maxbit Exchange, Backed by Energy Giant PTG

Tether, the issuer of leading stablecoin USDt, has taken a significant step in expanding its gold-backed token offering by launching Tether Gold (XAUt) on Maxbit, a licensed Thai cryptocurrency exchange.

The announcement, made on May 13, marks the first listing of a tokenized gold trading pair in Thailand. Maxbit, the exchange facilitating this move, is notably backed by PTG Energy, one of Thailand’s largest energy conglomerates, which holds a 35% stake in the firm.

What is Tether Gold?

Launched in January 2020, Tether Gold (XAUt) is a digital asset backed by physical gold. Each token represents one troy ounce of gold, securely stored in Swiss vaults. The asset currently holds a market capitalization of $802 million, positioning it as a leading product in the tokenized precious metals space.

Major Maxbit shareholders. Source: Thai SEC

Regulatory Momentum in Thailand

Tether Gold entry follows recent regulatory developments in Thailand aimed at expanding access to stablecoins and digital assets:

• In March 2025, the Thai Securities and Exchange Commission (SEC) approved the use of US dollar-backed stablecoins, including Tether’s USDt and Circle’s USDC, for trading on licensed platforms.

• These changes opened the door for broader adoption of tokenized assets, such as XAUt, within Thailand’s regulated financial ecosystem.

About Maxbit

Maxbit launched in October 2023 and operates under the supervision of the Thai SEC. The exchange aims to bridge traditional finance and the digital asset economy, now offering Thai users exposure to tokenized commodities like gold for the first time.

Aside from PTG Energy’s involvement, Maxbit is also supported by local investment firms Spearhead Labs (29%) and Unit Company (28.7%), highlighting strong domestic backing.

Conclusion

With the listing of Tether Gold (XAUt) on Maxbit, Thailand becomes a pioneer in Southeast Asia’s tokenized asset market. This move not only boosts the visibility of digital gold but also reinforces Thailand's growing reputation as a progressive hub for crypto innovation.