Last updated on August 31st, 2025 at 01:58 pm
Thailand has formally launched the TouristDigiPay initiative, allowing foreign visitors to seamlessly convert cryptocurrency into Thai baht for electronic payments in an ambitious bid to revitalize its struggling tourism sector amid dwindling international arrivals.
Announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, the program went live on August 18, 2025, and positions Thailand as one of the pioneering countries to integrate digital asset payments within tourism infrastructure.
Under the regulatory sandbox framework, only temporary foreign tourists who undergo strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks are eligible. Visitors must register with Securities and Exchange Commission (SEC)-regulated digital asset businesses and Bank of Thailand-licensed e-money providers to open accounts for cryptocurrency-to-baht conversion. Payments are made via popular QR code systems and electronic methods, but cash withdrawals are strictly prohibited—funds can only be accessed when closing the account.
The system imposes merchant-category-specific spending limits: large businesses equipped with card terminals face a cap of 500,000 baht ($15,418) per month, while smaller merchants are limited to 50,000 baht monthly. High-risk business categories are excluded from the program, ensuring oversight remains robust and risks minimized.
Tourism remains critical to Thailand’s economy. In the first half of 2025, arrivals dipped to 16.8 million from 17.7 million a year earlier, with a stark 34% drop in Chinese tourists, historically the country’s largest inbound segment. By leveraging digital asset innovation, government officials hope to attract crypto-savvy travelers, simplify payments, and boost tourism-related spending.
The launch follows an extensive consultation by Thailand’s SEC, concluding August 13, and may set a precedent for other nations exploring digital assets to drive growth in tourism and commerce.
Meanwhile, Thailand plans to introduce a nationwide digital asset regulatory sandbox, allowing foreign tourists to convert cryptocurrencies into Thai baht for spending.
Thailand’s initiative signals a strategic embrace of financial innovation to restore sector vitality and position the country as Asia’s most crypto-friendly destination for international visitors.
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