Tackling the growing inflation, Tether Limited Inc., the company behind USDT, launched its stablecoin pegged to gold — Tether Gold (XAU₮) — on Maxbit, one of the top finance brokers and exchanges in Thailand. The launch will make Maxbit the first exchange in the country to offer access to Tether Gold.
Reportedly, with the introduction of XAUT, the Tether team also places the token as a hedge against inflation, particularly as the token is a stablecoin backed by real assets like gold. For those unfamiliar, stablecoins are cryptocurrencies that usually have a stable or unchanged value despite the market volatility.
A part of a press release by Tether read that each XAU₮ token indicates ownership of one troy ounce of gold and “offers all the benefits of traditional gold, such as stability and long-term value.” Moreover, the token leverages the qualities of blockchain technology, such as speed, transparency, and security.
Following the launch, Paolo Ardoino, CEO of Tether, noted: “As demand grows for users increasingly seeking resilient, asset-backed solutions, we believe XAU₮ will strategically meet these needs.”
Is Thailand a crypto-friendly country?
Yes, Thailand is a crypto-progressive country and has taken the name for becoming the regional hub for blockchain services. Importantly, the announcement of the token launch on Maxbit happened in the wake of Thailand’s amendment to the digital asset regulation on April 12, 2025. The regulation requires foreign crypto companies that cater to Thai users to comply with the updated rules. What’s more, the Thailand Securities and Exchange Commission (Thai SEC) approved USDT, the stablecoin of Tether, as a recognized cryptocurrency for digital asset transactions.
The Q1 2025 attestation report shows that XAUT has a market capitalization of $770.0 million and is priced at $3,123.57. The report specifically states that the market cap of the token increased due to the market uncertainty caused by trade tariffs. At the time of reporting, the token was trading at $3,232.
The El Salvador-based crypto firm was earlier headquartered in the British Virgin Islands. Its relocation to El Salvador, a crypto-friendly country, marks the first time the company has established a physical headquarters after receiving the Digital Asset Service Provider (DASP) license.
