Author: Nancy, PANews
Thailand, rich in tropical charm, is a paradise for digital nomads and a hotbed for Web3 entrepreneurship. In the past week, core crypto forces have flocked to this 'Land of Smiles' to exchange ideas and share innovative outcomes.
Thailand has become one of the major hubs for global crypto development and innovation, as well as an important node in TRON's global expansion. Amid this wave of blockchain enthusiasm in Thailand, Sun Yuchen's appearance at the Thailand Blockchain Week has also gradually unveiled TRON's crypto landscape in Thailand.
The rise of Thailand's crypto ecosystem, with TRON seizing the market with stablecoins
In the early stages of crypto, the Thai government held a cautious or even prohibitive attitude towards this emerging field. However, with increasing market demand and the booming global crypto industry, the Thai government began to reassess its stance and gradually adjust policies to promote the legalization of cryptocurrencies, incorporating them into the regulatory framework.
At the same time, to promote the continuous development of the local crypto ecosystem, the Thai government has taken a series of proactive measures, especially ramping up efforts this year. For example, in February, the Thai government announced the exemption of value-added tax on cryptocurrency transactions, hoping to promote it as a new fundraising tool and provide strong momentum for the development of Thailand's digital economy; the Thai Securities and Exchange Commission (SEC) announced amendments to relevant rules to allow qualified investors to invest in US Bitcoin spot ETFs, further broadening investment channels; Thailand lifted restrictions on individual investors' investments in specific digital assets; the Thai government announced plans this year to allocate 157 billion baht from the 2025 national budget for digital wallet projects to enhance the country's digital economic development and claimed it could boost GDP growth by 1.2-1.6 percentage points...
In addition to policy support, to attract more crypto traders and developers, Thailand has also introduced measures such as a new 'digital nomad' visa to draw global crypto innovators and investors to conduct business in Thailand, injecting continuous momentum into the development of Thailand's digital economy.
This significant shift also showcases the gradual change in the Thai government's attitude towards cryptocurrencies and policy adjustments, making the country a strategic location for global crypto innovators to compete for positioning.
Thanks to a large user base and broad market prospects, the rise of the Thai crypto ecosystem provides fertile soil for the development of the crypto economy for platforms like TRON. TRON is focusing on the stablecoin sector to expand its market influence in Thailand.
As a new currency carrier, stablecoins have gradually permeated the global economy, becoming important tools for daily transactions and fund management. Thailand has also begun to layout in this area. For example, recently, the established Thai commercial bank SCB has provided customers with cross-border payment and remittance services using stablecoins, becoming the first bank in the country to use stablecoins for cross-border payments.
In contrast, TRON has a strong influence and a wide user base in the stablecoin sector, making it more likely to gain market recognition. Taking the world's largest stablecoin USDT as an example, according to Tether's official website, as of December 2, the market size of USDT has exceeded 134 billion USD, of which TRC20-USDT issued on TRON accounts for over 61.7 billion USD, becoming the second-largest issuing base for USDT after Ethereum, further reflecting the market's high recognition and urgent demand for it.
‘Through TRON's high-performance network, transfers of USDT can be executed efficiently and at low cost, significantly enhancing user experience while providing instant confirmation and low-fee services for cross-border payments and local transfers, meeting users' needs for fast and secure payments.’ Sun Yuchen revealed at the conference in Thailand that TRON will also explore new models of decentralized finance through the decentralized stablecoin USDD, taking a series of strong measures, including enhancing transparency, strengthening technical support, and optimizing collateral management, to ensure that USDD can remain stable during economic fluctuations.
Currently, USDT on TRON has made progress in its stablecoin布局 in Thailand. In March this year, Southeast Asia's O2O internet mobile platform Grab announced the launch of cryptocurrency recharge services, supporting tokens including TRON's USDT/USDC. Thailand's largest crypto exchange Bitkub also announced in September support for TRC20-USDT, providing users in Southeast Asia with a more convenient and secure financial service experience. TRON's high-performance network enables efficient and low-cost transfers of USDT, meeting users' needs for fast and secure payments.
From this perspective, with open policies, market demand, and the potential of the digital economy, Thailand is gradually becoming a key market in the global strategic landscape of TRON, and is advancing its global blockchain journey. At the same time, the strong foundation that TRON has built in the stablecoin market will also bring new possibilities for the development of the crypto economy in Thailand and Southeast Asia.
Aiming for a 'mind game' to leverage millions of crypto users in Thailand
As one of the famous marketing strategists AL Ries said, competition in marketing is a battle for minds; the ultimate battlefield of marketing competition lies not in factories or markets, but in the mind. To successfully develop a new market, merely having technology and business layout is far from enough; it is more necessary to establish golden pathways leading to the market's mindset.
In addition to deepening its business in the Thai market, TRON is also strategically targeting the mindset. On one hand, Sun Yuchen actively participates in major crypto events in Thailand, enhancing brand awareness and user recognition by showcasing TRON's technological advantages and ecological vision. On the other hand, TRON effectively establishes brand exposure by sponsoring events such as BITKUB SUMMIT 2024, Devcon Berkeley Security Summit, and Community Frens, imToken Devcon7, further deepening its influence in Thailand.
For TRON, the improvement of brand awareness and influence not only effectively helps it capture the mindset of users in the Thai market, achieving higher customer conversion rates and potential trading volume growth, but also opens up new growth points for the development of crypto in Thailand.
As the second-largest economy in Southeast Asia, Thailand has gradually emerged as one of the most vibrant crypto ecosystems in the region amidst soaring cryptocurrency adoption rates and trading volumes, quickly becoming an important competitor in the global crypto market. According to Statistics from Statista.com, by the end of 2023, Thailand had 13.02 million cryptocurrency users, accounting for about 18.1% of its total population, and is expected to rise to 17.67 million by 2028.
This also means that through a series of strategic layouts in Thailand, TRON will not only help consolidate its position in the global crypto ecosystem but also inject new momentum into the crypto economy in Thailand and Southeast Asia, assisting the crypto market in further breaking through barriers.
