Thailand has unveiled a new digital payment initiative designed to make it easier for foreign visitors to use cryptocurrencies for everyday transactions during their stay.
TouristDigiPay Program Details
According to The Nation, the program, called TouristDigiPay, allows tourists to convert their digital assets into Thai baht and make QR code–based payments at participating merchants across the country.
The initiative is guided by the Thai Securities and Exchange Commission (SEC) and operates within a regulatory sandbox. This ensures compliance with key financial requirements, including Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.
How Tourists Can Use the Program
To access the service, foreign visitors must open accounts with approved digital asset and e-money providers. These accounts convert cryptocurrencies such as Bitcoin into Thai baht, stored in a dedicated Tourist Wallet. The wallet also supports linking to foreign debit and credit cards, enabling seamless spending.
To prevent misuse, the government has implemented spending caps: large merchants with card terminals can process up to 500,000 baht per month, while smaller merchants are limited to 50,000 baht.
Boosting Tourism and the Local Economy
This move reflects Thailand’s broader strategy to stimulate tourism and strengthen its economy through regulated digital finance. Between January and August alone, Thailand welcomed around 20 million international visitors, generating approximately $26.25 billion in revenue.
Government spokesperson Sasikan Watthanachan noted that the initiative is part of Thailand’s commitment to attracting more international travelers while supporting the regulated adoption of cryptocurrencies.
Thailand’s Growing Embrace of Crypto
In recent months, Thailand has taken several steps to integrate digital assets into its economy. Authorities have approved the commercial use of stablecoins such as Tether (USDT) and USDC, further expanding crypto utility.
Additionally, the government recently passed a five-year tax exemption on profits from digital asset sales, effective from January 2025 to December 2029.
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