Thailand has introduced a new program designed to make it easier for international travelers to spend cryptocurrency during their visits.
The TouristDigiPay initiative will allow tourists to seamlessly convert digital assets into Thai baht, enabling quick QR-based payments across participating merchants.
Regulated Sandbox for Crypto Tourism
The project, guided by the Thai Securities and Exchange Commission, will run inside a regulatory sandbox to ensure compliance with KYC and AML standards. Foreign visitors will need to open accounts with approved digital asset and e-money providers, who will issue a dedicated Tourist Wallet. This wallet will handle instant conversions of cryptocurrencies like Bitcoin into local currency and can also be linked to foreign debit and credit cards.
Spending Caps for Merchants
To prevent misuse, authorities are imposing spending caps. Large merchants with card terminals can process up to 500,000 baht per month, while smaller merchants will be limited to 50,000 baht. These limits are intended to strike a balance between promoting digital finance and maintaining oversight.
Strengthening Tourism With Crypto
The move comes as Thailand looks to bolster its vital tourism sector, which generated $26.25 billion from 20 million visitors between January and August this year. Deputy Government Spokesperson Sasikan Watthanachan said the country views regulated crypto use as a way to encourage more tourism-related spending while maintaining financial stability.
Broader Crypto-Friendly Policies
Thailand has increasingly embraced digital assets in recent months. Stablecoins such as Tether (USDT) and USDC have been authorized for commercial use, and the government recently introduced a five-year tax exemption on profits from selling digital assets, effective from January 2025 to December 2029.
By combining regulatory oversight with practical tools like the Tourist Wallet, Thailand is positioning itself as one of Asia’s most crypto-friendly destinations for international travelers.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
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