tl;dr
The Thailand government will launch "TouristDigiPay" on August 18, 2025, allowing foreign visitors to convert cryptocurrency into Thai Baht for electronic payments to boost tourism. Tourists must open accounts with SEC and BOT-regulated digital asset businesses, undergoing strict KYC and CDD checks ...
The Thailand government is launching “TouristDigiPay” on Monday, August 18, 2025, to boost its tourism sector by enabling foreign visitors to convert cryptocurrency into Thai Baht for electronic payments. This initiative aims to counteract a downturn in tourism caused by fewer visitors from China and to provide tourists with an alternative payment method aligned with Thailand’s growing cryptocurrency integration.
To participate, tourists must open accounts with a Thai Securities and Exchange Commission (SEC) and Bank of Thailand (BOT) regulated digital asset business and e-money provider. Strict Know Your Customer (KYC) and Customer Due Diligence (CDD) processes will be enforced to prevent financial crimes like money laundering and terrorist financing, ensuring regulatory compliance and security.
An important feature of the scheme is the “Tourist Wallet,” which supports QR code payments and facilitates currency conversion from cryptocurrency to Thai Baht. The Tourist Wallet will eventually connect with foreign debit and credit cards to enhance payment convenience. To limit misuse, spending caps are set at 500,000 Baht monthly for merchants with card terminals and 50,000 Baht for smaller merchants.
The initiative responds to a 24% decline in East Asian tourists and a 34% decrease in Chinese visitors amid global economic pressures and currency fluctuations. By embracing cryptocurrency payments, Thailand aims to diversify its tourist market, attract tech-savvy visitors, and offer more flexible payment solutions.
Recognizing potential risks like money laundering, the government has instituted safeguards including restricted cash withdrawals from digital assets until account closure, transaction limits, and bans on high-risk business dealings. These measures, combined with ongoing regulatory oversight, strive to protect tourists and maintain economic stability as the program evolves.