Stablecoins to conquer the world. Thailand will take one more step Towards the acceptance of cryptocurrencies. PUSH The Securities and Stock Exchange Commission (Sec) The country has recently approved USDT Stablecoins Tether and USDC Circle for cryptocurrency trading. This decision allows stablecoins to be listed on regulated stock exchange platforms throughout Thailand, opening up new opportunities for investors and local companies.
- Thailand has approved the USDT and USDC Stablecoins for cryptocurrency trading and meant a major step towards taking cryptos.
- This decision opens new prospects for local investors and companies and legitimizes the use of cryptocurrencies in the country.
A new era for trading in Thailand
PUSH Thai dry He announced the approval of USDT and USDC Stablecoins after a public consultation on proposed regulatory changes. These changes, completed in February, come into force March 16. The approval of these two stable It is part of a wider approach focused on the legitimization of the use of cryptocurrencies in Thailand and the encouragement of the acceptance of these cryptos indexed to the US dollar to stimulate national income.
In August 2024 Thailand has already created a “Regulatory quarantine” allow certain service providers to test cryptocurrencies. With this new consent to Stablecoins, it connects to a limited list of cryptocurrencies allowed for trading in the country, along with Bitcoins (BTC), Ethereum (ETH), XRP (XRP), Stellar (XLM) and other cryptos tested by Thai bank.
Stablecoins: International Transfers Tool
For tradingStablecoins are increasingly considered to be a alternative Traditional methods of transferring money, especially in developing markets. According to a textbook report, stablecoins are a case of use “Transformer” For payments and fundraising. For example in Sub -Saharan Africa use stable For money transfers, it is 60 % cheaper than traditional methods.
According to A16z Crypto, 28.5 million unique users stable More than 600 million transactions were made in December. And although this represents only a small fraction of 3.4 trillion transactions in the world industry PaymentThe acceptance of stablecoins is growing.
With a total value of almost $ 230 billion in circulation stable Continue to gain popularity everywhere on the planet. The recent USDT and USDC approval in Thailand can speed up this trend by facilitating access to cryptocurrencies for investors and the company of the former Kingdom Siam.