Author: Nancy, PANews
Thailand, rich in tropical charm, is a paradise for digital nomads and a hotbed for Web3 entrepreneurship. Over the past week, core crypto forces 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, as well as an important node for TRON's global expansion. In this wave of blockchain enthusiasm in Thailand, Sun Yuchen's appearance at Thailand Blockchain Week has gradually brought TRON's crypto landscape in Thailand to light.
The rise of Thailand's crypto ecosystem has enabled TRON to seize market opportunities 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 adjusted its policies to promote the legalization of cryptocurrencies, integrating them into a 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 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 the modification of relevant rules to allow qualified investors to invest in U.S. Bitcoin spot ETFs, further broadening investment channels; Thailand lifted investment restrictions on individual investors in certain digital assets; the Thai government announced plans this year to allocate 157 billion Thai Baht from the national budget by 2025 for digital wallet projects to enhance the country's digital economy development, claiming it could boost GDP growth by 1.2-1.6 percentage points...
In addition to policy support, Thailand has launched measures such as a new 'digital nomad' visa to attract more crypto traders and developers, enticing global crypto innovators and investors to conduct business in Thailand, injecting continuous momentum into the development of Thailand's digital economy.
This significant transformation also reflects the gradual shift and policy adjustment of the Thai government's attitude towards cryptocurrency, making the country a strategic hub where global crypto innovators compete to establish themselves.
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, including TRON. TRON is focusing on the key area of stablecoins to expand its market influence locally in Thailand.
As a new currency vehicle, stablecoins have gradually penetrated the global economy, becoming important tools for daily transactions and fund management. Thailand has also begun to layout in this area. For instance, not long ago, Thailand's established commercial bank SCB provided customers with stablecoin cross-border payment and remittance services, becoming the first bank in the country to use stablecoins for cross-border payments.
In contrast, TRON has a strong influence and a broad user base in the stablecoin sector, making it easier to gain market recognition. For instance, according to Tether's official website, as of December 2, the market cap of USDT has exceeded $134 billion, with TRC20-USDT issued on TRON accounting for over $61.7 billion, making it the second-largest issuance base for USDT after Ethereum, further reflecting the market's high recognition and urgent demand for it.
Through the high-performance network of TRON, the transfer of USDT can achieve efficient and low-cost operations, significantly improving user experience and 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 a conference in Thailand that 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 guarantees, and optimizing collateral management, to ensure that USDD can maintain stable operation amidst economic fluctuations.
Currently, USDT on TRON has made progress in its stablecoin layout in Thailand. In March of this year, Southeast Asia's O2O mobile platform Grab announced the launch of cryptocurrency recharge services, supporting tokens such as TRON-based USDT/USDC. Thailand's largest crypto exchange, Bitkub, also announced in September that it supports TRC20-USDT, providing users in Southeast Asia with a more convenient and secure financial service experience. TRON's high-performance network allows USDT transfers to achieve efficient and low-cost operations, meeting users' needs for fast and secure payments.
From this perspective, with open policies, market demand, and potential for digital economy, Thailand is gradually becoming a key market in TRON's global strategic map, promoting its global blockchain journey. At the same time, the strong capabilities TRON has built in the stablecoin market will bring new possibilities for the development of the crypto economy in Thailand and Southeast Asia.
Leveraging a 'mind game' to engage millions of crypto users in Thailand.
As one of the renowned marketing strategists, AL Ries said, marketing competition is a competition for minds; the ultimate battlefield of marketing competition is not in factories or markets, but in the mind. To successfully explore a new market, it is far from enough to rely solely on technology and business layout; it is also necessary to establish golden pathways to the market's mind.
In addition to deeply cultivating the Thai market through business, TRON is also playing the psychological card. On one hand, Sun Yuchen actively participates in major crypto events in Thailand, enhancing brand recognition and user acceptance by showcasing TRON's technological advantages and ecological vision. On the other hand, TRON effectively establishes brand exposure by sponsoring BITKUB SUMMIT 2024, the Devcon Berkeley Security Summit, and participating in important events such as Community Frens and imToken Devcon7, further deepening its influence in Thailand.
For TRON, enhancing brand awareness and influence not only effectively helps it capture user minds in the Thai market, resulting in higher customer conversion rates and potential transaction volume growth, but also opens up new growth points for itself and Thailand's crypto development space.
As the second-largest economy in Southeast Asia, Thailand has gradually emerged as one of the most vibrant crypto ecosystems in the region, alongside the surge in cryptocurrency adoption and trading volume, 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 approximately 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 solidify 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 breaking through layers.
Author: PANews; from the open content platform 'Dededehao' by Chain Dedede. This article only represents the author's views and does not represent the official position of Chain Dedede. The originality and authenticity of 'Dededehao' articles are guaranteed by the submitter. If legal consequences arise due to plagiarism, fabrication, or other actions, the submitter will bear the responsibility. If there are any infringement, violations, or other inappropriate remarks in the articles published on the Dededehao platform, readers are encouraged to supervise. Once confirmed, the platform will take immediate action. For any issues with the article content, please contact WeChat: chaindd123.
