Tether Shakes Up Thailand's Crypto Scene with Gold-Backed XAUT on Maxbit

First in the Nation: Maxbit Launches Tether Gold

Tether just dropped a bombshell in Thailand by listing its gold-backed token, XAUT, on Maxbit. This move makes the Thai platform the first to let locals dive into this blockchain-based precious metal asset.

Tether Gold Hits Thai Shores

Stablecoin giant Tether is making waves in Thailand with its gold-backed token, Tether Gold (XAUT), now available on Maxbit. This local crypto exchange, a fresh joint venture with SET-listed PTG Energy, is ready to roll out the red carpet for XAUT, according to Tether's latest press blast.

CEO Calls It a Game-Changer

Tether's head honcho, Paolo Ardoino, is calling this move a "significant milestone." He's pumped about the growing demand from users who are all about those resilient, asset-backed solutions.

Ardoino's Take

"We are thrilled to see XAUT listed on Maxbit, marking a major milestone as the first platform to offer access to our gold-backed digital asset in Thailand."

Paolo Ardoino

The Gold Behind XAUT

Tether isn't messing around. Their latest attestation report shows they're holding a whopping 246,523.33 ounces of gold—that's over 7.7 tons! And get this, each XAUT token is backed 1:1 by a troy ounce of physical gold, safely tucked away in a Swiss vault.

XAUT's Market Moves

As of April 28, XAUT's market cap was soaring past $770 million. The token's been trading around $3,300, with a high of $3,423 on April 21, riding the wave of gold's recent rally.

Tether's Latest Innovation: aUSDT

In June 2024, Tether upped the ante by introducing a new asset class backed by Tether Gold. They're calling it aUSDT, and it's designed to keep things stable for users. This over-collateralized token tracks the U.S. dollar but ditches the traditional fiat-backed model in favor of gold reserves.