Thailand’s financial regulator Securities and Exchange Commission (SEC) expands its list of approved cryptocurrencies with the two largest stablecoins, Tether’s USDT and Circle’s USDC as trading pairs on digital asset exchanges.

Previously, only Bitcoin (BTC), Ethereum (ETH), XRP, Stellar (XLM) and certain tokens used in the width of Thailand’s settlement system approved by the regulator.

The move comes after a public consultation in February, with most respondents supporting the proposal. The new rules from will take place on March 16.

By recognizing USDT and USDC, Thailand adapts to global trends where stableecoins play a key role in crypto trading and payments. Stableecoins are one of the fastest growing sectors in crypto, driven by demand in the development of regions such as Southeast Asia, Africa and Latin America. USDT has a market value of $ 142 billion, followed by USDC with its $ 58 billion market capital.

USDT issues Tether said on Monday that the approval paves the way for wider acceptance of his token in Thailand’s financial sector.

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