Thailand officially launched Monday its groundbreaking cryptocurrency-to-baht payment system for foreign tourists, becoming the first Southeast Asian nation to integrate digital assets into its tourism infrastructure amid declining visitor numbers.
The TouristDigiPay initiative allows foreign visitors to convert cryptocurrencies into Thai baht through regulated digital wallets and make payments via QR codes at participating merchants across the country.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the program alongside officials from the Securities and Exchange Commission, Anti-Money Laundering Office and Ministry of Tourism and Sports during a Monday press conference in Bangkok.
“This initiative represents Thailand’s commitment to embracing financial innovation while maintaining strict regulatory oversight,” officials stated during the announcement.
Program Mechanics
The system operates within a regulatory sandbox framework, requiring tourists to establish accounts with both SEC-regulated digital asset businesses and Bank of Thailand-approved e-money providers. All participants must complete stringent Know Your Customer verification and customer due diligence checks to prevent money laundering.
The program includes a complementary “Tourist Wallet” developed by the central bank to facilitate QR code payments, particularly targeting visitors from countries without existing cross-border payment agreements.
Naphongthawat Phothikit, senior director at the Bank of Thailand’s Payment Systems and Financial Technology Policy Department, confirmed the wallet will initially function as an e-money conversion system with future plans to link directly to foreign debit and credit cards.
Transaction Safeguards
To mitigate financial crime risks, the program imposes monthly spending limits of 500,000 baht for merchants with card terminals and 50,000 baht for smaller establishments. Transactions remain prohibited at businesses classified as high-risk for money laundering under government guidelines.
Tourists can only withdraw funds when closing accounts and cannot make cash withdrawals based on account balances.
Tourism Recovery Strategy
The initiative directly addresses Thailand’s tourism decline, with foreign arrivals dropping 6.56% in 2025, primarily due to reduced Chinese visitors. The Securities and Exchange Commission completed public consultation on digital asset tourism applications Aug. 13, just days before the launch.
Thailand’s tourism authority views the program as crucial for attracting tech-savvy international travelers and modernizing the country’s payment ecosystem while competing with regional destinations.
Looking Ahead
The pilot program will operate under continuous government monitoring to assess effectiveness and identify necessary adjustments. Officials plan to expand merchant participation and potentially integrate additional cryptocurrencies based on initial results.
The launch positions Thailand as a regional leader in digital payment innovation, potentially influencing neighboring countries to develop similar programs as tourism competition intensifies across Southeast Asia.
The program begins operations immediately for eligible foreign tourists with proper documentation and verified digital asset accounts.
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