Update (Aug. 18, 8:12 am UTC): This article has been updated to include an official statement from the Thai SEC.
Thailand is preparing to launch a regulatory sandbox that will allow foreign tourists to convert cryptocurrencies into Thai baht for spending in the country, its securities regulator said.
The “TouristDigiPay” project will run for 18 months beginning in the fourth quarter of 2025, according to an Aug. 18 announcement from the Securities and Exchange Commission (SEC) sent to Cointelegraph. The initiative is being co-developed with the Ministry of Finance, the Anti-Money Laundering Office (AMLO) and the Ministry of Tourism and Sports.
Notably, the SEC stressed that cryptocurrencies will not be allowed to be used directly for goods and services. Merchants will receive payment in baht, while Know Your Customer and Customer Due Diligence requirements set by AMLO will apply to both digital asset operators and e-money providers.
The TouristDigiPay project builds upon the existing ecosystem that integrates the digital asset trading system regulated by the SEC with the e-money system regulated by the Bank of Thailand,” said SEC Secretary-General Pornanong Budsaratragoon. She added that the program includes “appropriate risk management measures” designed to safeguard both tourists and merchants.
There will also be safeguards, including monthly spending limits and a block on direct cash withdrawals.
Officials hope crypto can boost tourism
The TouristDigiPay scheme is an attempt to breathe new life into Thailand’s tourism industry, and a direct response to a slowdown in foreign visitors, especially from China, which has long been considered a cornerstone of the industry, local outlet The Nation reported on Saturday.
Thailand welcomed about 16.8 million tourists in the first half of 2025, down from 17.7 million in the year-earlier period, with a 24% drop in tourists from East Asia and a 34% fall in visitor numbers from China, The World Tourism Institute said in a July 10 report.
The report said tourists are eyeing other countries in the region, such as Japan with its weaker Japanese yen making it more affordable, and the comparatively cheaper Vietnam.
“Thailand’s 5% tourism decline in 2025 underlines the urgent need for diversification, market repositioning, and enhanced visitor experiences to compete in a changing regional landscape,” the report said.
Thailand still experimenting with crypto
Using crypto to stimulate tourism has been under review by the Thai government, with the country’s SEC completing a public consultation on the use of financial innovation and digital assets to support economic and tourism growth on Aug. 13.
Chunhavajira first announced the TouristDigiPay initiative during an investment seminar in Bangkok on May 26.
Related: Thailand to block Bybit, OKX and other crypto exchanges on June 28
It followed an announcement in January about a trial to allow foreign visitors to pay for goods and services using cryptocurrencies in Phuket, one of Thailand’s most popular tourist destinations. The trial is still in the works.
Countries and businesses adopting crypto to attract tourists
The Kingdom of Bhutan in South Asia has also taken steps to integrate crypto payments into its tourism infrastructure, with a partnership between Binance Pay and local bank DK Bank to let users pay for their expenses using crypto.
Jeff Bezos’ Blue Origin inked a deal with Shift4 Payments on Aug. 11, offering customers the option to pay for outer space trips in Bitcoin (BTC), Ether (ETH), Solana (SOL) and Stablecoins such as USDT (USDT) and USDC (USDC).
Meanwhile, in July, the United Arab Emirates signed an agreement with Crypto.com to allow passengers to pay for flights and in-flight purchases using crypto.
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Source: https://cointelegraph.com/news/thailand-plans-launch-crypto-payment-tourists?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound