Thailand’s Digital Tourist Wallet Launches with Crypto Feature Pending Regulatory Review

Thailand has rolled out its Digital Tourist Wallet, enabling foreign visitors to make QR-based baht payments, though the promised cryptocurrency conversion feature remains in regulatory limbo. The Bank of Thailand designed the wallet to streamline transactions for travelers from countries without existing cross-border QR payment links, currently limited to eight nations including Singapore and Malaysia.

Funding options for the wallet include cash deposits at authorized counters, foreign debit/credit cards, and overseas bank transfers. Strict limits apply: 500,000 baht ($13,800) monthly for card-terminal merchants and 50,000 baht for small vendors. The system explicitly prohibits cash withdrawals, with balances only redeemable through account closure.

The cryptocurrency aspect hangs in the balance as Thailand's Securities and Exchange Commission conducts sandbox testing. Regulators are evaluating whether licensed exchanges can safely facilitate crypto-to-baht conversions for tourist spending. Full KYC verification using passport details will be mandatory, reflecting concerns about money laundering risks.

A decision on crypto integration awaits The Sandbox conclusion, expected by mid-August. Until then, digital asset holders must find alternative means to access Thailand's growing digital payment infrastructure.