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 figures in the crypto space have traveled to this "Land of Smiles" to exchange ideas and share innovative achievements.

Thailand has become one of the main hubs for global crypto development and innovation, and an important node in the global expansion of TRON. During this wave of blockchain enthusiasm in Thailand, Sun Yuchen made an appearance at Thailand Blockchain Week, gradually revealing TRON's crypto landscape in Thailand.

The Rise of Thailand's Crypto Ecosystem: TRON Seizes the Market with Stablecoins

In the early stages of crypto, the Thai government held a cautious, 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 policies to promote the legalization of cryptocurrencies, incorporating them into a regulatory framework.

At the same time, to promote the sustainable 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 modifications to relevant rules, allowing qualified investors to invest in U.S. Bitcoin spot ETFs, further broadening investment channels; Thailand lifted restrictions on individual investors' investments in specific digital assets; and the Thai government announced plans to allocate 157 billion baht from the 2025 national budget for digital wallet projects to enhance the country's digital economy, claiming 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 reflects 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 Thailand's crypto ecosystem provides fertile ground for the development of crypto economies like TRON. TRON is focusing on the key area of stablecoins to expand its market influence 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 lay the groundwork. For instance, recently, Thailand's long-established commercial bank SCB has 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 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, 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 TRON's high-performance network, USDT transfers can achieve efficient and low-cost operations, significantly enhancing 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 the conference in Thailand. 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 safeguards, and optimizing collateral management, to ensure that USDD can maintain stable operation amid economic fluctuations.

Currently, USDT on TRON has made progress in its stablecoin layout in Thailand. In March of 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 that it supports TRC20-USDT, providing Southeast Asian users with a more convenient and secure financial service experience. TRON's high-performance network enables USDT transfers to achieve efficient and low-cost operations, meeting users' needs for fast and secure payments.

Thus, with open policies, market demand, and the potential of the digital economy, Thailand is gradually becoming a key market in TRON's global strategic landscape, advancing its global blockchain journey. At the same time, TRON's deep strength accumulated in the stablecoin market will bring new possibilities for the development of the crypto economy in Thailand and Southeast Asia.

Launching a "Mind War" 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 the mind; the ultimate battlefield of marketing competition is not in factories or markets, but in the mind. To successfully develop a new market, it is not enough to rely solely on technology and business layout; it is also necessary to establish golden paths to the market's mindset.

In addition to deepening its business in the Thai market, 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 effectively builds brand exposure by sponsoring events such as BITKUB SUMMIT 2024, Devcon Berkeley Security Summit, and participating in important activities like Community Frens and imToken Devcon7, further deepening its influence in Thailand.

For TRON, enhancing brand awareness and influence not only helps it capture user mindshare in the Thai market, leading to higher customer conversion rates and potential transaction volume growth, but also opens up new growth points for itself and the crypto development space 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, with soaring cryptocurrency adoption rates and trading volumes, quickly becoming 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 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, further helping the crypto market break through barriers.

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