Thailand Launches “TouristDigiPay” to Convert Crypto to Baht

• Thailand launches TouristDigiPay to let tourists convert crypto into baht for e-payments.
• The program runs in a regulatory sandbox with strict KYC, AML checks, and spending limits.
• Digital assets can’t be used directly; only baht via licensed e-money platforms is allowed.

If you’re a crypto holder planning a trip to Thailand, spending your money is about to get a lot easier. The Thai government is rolling out a new program today, August 18, called “TouristDigiPay” that will allow foreign visitors to convert crypto into Thai Baht for electronic payments.

This is part of government efforts to boost the tourism sector following a slowdown in arrivals, particularly from China.

The launch will be officially announced at a press conference led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira. Senior officials from the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports are expected to participate.

TouristDigiPay is targeted to provide tourists with a regulated channel to exchange digital assets into baht. The funds can then be spent electronically, such as through QR code payments, across participating services in the country. However, direct use of digital assets for payments remains prohibited under Thai financial rules.

How the Program Works (With Safeguards)

Thai authorities have placed the entire program inside a regulatory sandbox to ensure close monitoring and risk management. 

If you want to participate, you’ll be required to open accounts with licensed digital asset firms and e-money providers in Thailand, which are regulated by the SEC and the Bank of Thailand (BOT).

Participation will also be subject to strict Know Your Customer (KYC) and customer due diligence (CDD) checks. These measures, overseen by AMLO, are intended to prevent financial crime. Additional safeguards include monthly spending caps and a ban on direct cash withdrawals from converted funds.

While at it: Here’s our recent report on Thailand approving its first Bitcoin ETF.

Focus on Controlled Digital Asset Use

The SEC recently concluded a public consultation on the role of financial innovation and digital assets in supporting tourism and economic growth. Feedback from that process has influenced the structure of TouristDigiPay, which highlights secure usage without permitting cryptocurrency to circulate as legal tender.

Only foreign visitors temporarily staying in Thailand will be eligible for the service. Approved local exchanges, brokers, and dealers will facilitate the conversion of digital assets into baht, which must then be spent through e-money platforms regulated by the BOT.

By launching TouristDigiPay, Thailand’s financial and tourism authorities are seeking to create an additional payment option for visitors while keeping the system within a regulated framework. 

A new way to pay: Here’s CoinEdition’s report on how you can pay your entire Thai trip with crypto.