Article source: Nancy
Author: Nancy, PANews
Thailand, rich in tropical charm, is a paradise for digital nomads and a hotbed for Web3 entrepreneurship. In the past week, key players in crypto have traveled to this 'Land of Smiles' to exchange ideas and share innovative results.
Thailand has become one of the major hubs for global crypto development and innovation, and an important node in the global expansion of TRON. During this wave of Thailand's blockchain boom, Sun Yuchen appeared at Thailand Blockchain Week, gradually bringing the crypto landscape of TRON in Thailand into view.
The rise of Thailand's crypto ecosystem, with TRON seizing the market through stablecoins.
In the early stages of crypto, the Thai government was cautious and even prohibited this emerging field. However, with the increase in market demand and the booming development of the global crypto industry, the Thai government began to reassess its position and gradually adjust policies to promote the legalization of cryptocurrencies and incorporate them into the regulatory framework.
At the same time, in order to promote the sustainable development of the local crypto ecosystem, the Thai government has taken a series of proactive measures, especially this year by intensifying efforts. For example, the Thai government announced in February this year to exempt 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, allowing qualified investors to invest in US Bitcoin spot ETFs, further broadening investment channels; Thailand lifted restrictions on individual investors in specific digital assets; the Thai government announced this year a plan to allocate 157 billion baht from the 2025 national budget for digital wallet projects, aimed at enhancing the country's digital economy and claiming to boost GDP growth by 1.2-1.6 percentage points......
In addition to policy support, in order to attract more crypto traders and developers, Thailand has also introduced new measures such as the 'digital nomad' visa to attract global crypto innovators and investors to do business in Thailand, injecting continuous momentum into the development of Thailand's digital economy.
This significant shift also reflects the gradual change in the Thai government's attitude towards cryptocurrencies and policy adjustments, making the country a strategic destination for global crypto innovators to compete for layout.
Thanks to a large user base and broad market prospects, the rise of Thailand's crypto ecosystem provides fertile ground for the development of the crypto economy such as TRON. TRON has set its sights on the stablecoin sector as a key area to expand its market influence locally.
As a new currency medium, stablecoins have gradually permeated the global economy and become important tools for daily transactions and fund management. Thailand has also begun to lay out its plans. For example, recently, SCB, a well-established commercial bank in Thailand, has provided customers with stablecoin cross-border payment and remittance services, becoming the country's first bank 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 easier 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, of which TRC20-USDT issued based on TRON has occupied more than $61.7 billion, becoming the second-largest issuance base for USDT after Ethereum, further reflecting the high recognition and urgent demand from the market.
"Through TRON's high-performance network, transfers of USDT can achieve efficient and low-cost operations, not only significantly enhancing user experience but also providing instant verification and low-cost services for cross-border payments and local transfers, meeting the needs of users for fast and secure payments," Sun Yuchen revealed at the conference in Thailand. TRON will also explore new models of decentralized finance through the decentralized stablecoin USDD and will take a series of strong measures, including enhancing transparency, strengthening technical support, and optimizing collateral management, to ensure USDD can maintain stable operation amid economic fluctuations.
Currently, USDT on TRON has made progress in its stablecoin layout in Thailand. In March this year, the Southeast Asian O2O internet mobile platform Grab announced the launch of cryptocurrency recharge services, supporting tokens including TRON version 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, relying on open policies, market demand, and digital economic potential, Thailand is gradually becoming a key market in TRON's global strategic map, also advancing its global blockchain journey. Meanwhile, the strong capabilities accumulated by TRON in the stablecoin market will also bring new possibilities for the development of the crypto economy in Thailand and Southeast Asia.
Playing the 'mind game' to tap into millions of crypto users in Thailand
As one of the famous marketing strategists AL Ries said, marketing competition is a competition for mindshare, and the ultimate battlefield of marketing competition is not in factories or markets, but in the mind. To successfully explore new markets, relying solely on technology and business layout is far from enough; it is also necessary to establish golden paths to market mindshare.
In addition to deeply cultivating the Thai market through business, TRON is also playing the mind game. 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 has effectively established brand exposure by sponsoring BITKUB SUMMIT 2024, Devcon Berkeley Security Summit, and participating in important events such as Community Frens and imToken Devcon7, further deepening its influence in Thailand.
For TRON, the enhancement of brand awareness and influence not only effectively helps it seize user mindshare in the Thai market, thus achieving higher customer conversion rates and potential trading volume growth, but also opens up new growth points for its own and Thailand's crypto development space.
As the second-largest economy in Southeast Asia, with a surge in cryptocurrency adoption and trading volume, Thailand has gradually emerged as one of the most vibrant crypto ecosystems in the region and has quickly become an important competitor in the global crypto market. According to statistics from Statista.com, as of the end of 2023, Thailand has 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, further helping the crypto market break through its barriers.
