Thailand to Launch Crypto Payment Scheme for Tourists Amid Tourism Slump

Thailand is set to introduce TouristDigiPay on August 18, allowing foreign visitors to convert cryptocurrencies into Thai baht for electronic payments. The initiative comes as the country's tourism industry faces a decline this year.

Tourists must open accounts with regulated digital asset providers and e-money service providers, overseen by the SEC and Bank of Thailand. Strict KYC and anti-money laundering checks will be enforced before crypto-to-baht conversions are permitted. Transactions will be limited to electronic payments via QR codes, with no cash withdrawals allowed to curb financial crime.

The program operates under a regulatory sandbox, enabling real-world testing while imposing spending caps for financial stability. Deputy Prime Minister Pichai Chunhavajira will lead the launch alongside senior officials from the Finance Ministry and regulatory bodies.