Thailand Launches Crypto-to-Fiat Pilot for Tourists to Boost Spending

Thailand's government is rolling out an 18-month sandbox project called TouristDigiPay, allowing foreign visitors to convert cryptocurrencies into Thai baht through licensed platforms. The initiative caps conversions at 550,000 baht (≈$13,600) per tourist to mitigate money laundering risks while enabling QR-based spending via regulated e-wallets.

Finance Minister Pichai Chunhavajira frames the measure as a lifeline for the tourism sector, which faces a 10% downward revision in 2025 visitor projections to 33 million. The cross-agency collaboration—involving Thailand's SEC, Anti-Money Laundering Office, and Tourism Ministry—signals institutional commitment to payment innovation.

Though the program prohibits direct crypto payments initially, it establishes a critical bridge between digital assets and real-world commerce. The spending cap reflects Bangkok's cautious approach to balancing technological adoption with financial safeguards.