Thailand Launches Crypto-to-Baht Payment System to Boost Tourism

Thailand has introduced a regulatory sandbox called TouristDigiPay, allowing foreign tourists to convert cryptocurrencies into Thai baht for electronic payments. Launched on August 18, 2025, the initiative is part of the country’s broader strategy to modernize its digital finance infrastructure and revive its tourism sector [1]. The system is supervised by the Bank of Thailand and the Securities and Exchange Commission (SEC), ensuring compliance with anti-money laundering and financial regulations [2].

Under the sandbox, tourists can open accounts with authorized digital asset providers and e-money institutions to convert their crypto assets into baht. Converted funds can be used for QR code payments at participating merchants nationwide [3]. The initiative includes safeguards such as Know Your Customer (KYC) and anti-money laundering (AML) checks, as well as transaction limits. For example, tourists can spend up to 500,000 baht per month via card terminals, while small merchants are restricted to 50,000 baht per month [4]. High-risk businesses, as defined by the Anti-Money Laundering Office, are excluded from the program [5].

The scheme does not permit direct on-chain crypto transactions. Instead, all payments are conducted in Thai baht through authorized channels, enhancing transactional efficiency without exposing the domestic financial system to direct cryptocurrency volatility [6]. The Bank of Thailand has also developed a Tourist Wallet to facilitate QR-based payments, potentially linking to foreign credit or debit cards in the future [7].

The initiative was formally announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, reflecting the government’s commitment to fostering digital finance while supporting tourism [8]. The program aligns with Thailand’s New Thailand 2026 strategy and other tourism-focused campaigns such as Thai Hub This Summer [9]. It also follows a recently approved five-year tax exemption for profits from crypto and investment tokens traded on licensed platforms, signaling a growing acceptance of digital assets [10].

Analysts have drawn comparisons to the UAE’s successful crypto payment systems, suggesting that Thailand’s approach could serve as a model for other countries seeking to integrate digital currencies into tourism [11]. The initiative aims to attract crypto-savvy travelers and increase crypto conversion volumes while setting a regulatory precedent for balancing innovation with financial stability [12].

Sources:

[1] Thai Government Launches Crypto-to-Baht Scheme (https://www.nationthailand.com/business/digital-assets/40054107)

[2] Thailand pitches crypto-to-baht QR payments sandbox to (https://www.dlnews.com/articles/people-culture/thailand-crypto-to-baht-qr-payments-pilot-as-tourism-boost/)

[3] Thailand Launches TouristDigiPay (https://cryptonews.com/news/thailand-launches-crypto-to-baht-payment-system-for-tourists-starting-august-18/)

[4] Thailand Launches TouristDigiPay (https://en.cryptonomist.ch/2025/08/17/thailand-launches-tourist-crypto-wallet-to-spend-crypto-in-baht/)

[5] Thailand wields crypto conversion to strengthen tourism (https://crypto.news/thailand-crypto-conversion-program-strengthen-tourism/)

[6] Thailand to Launch Crypto-to-Baht Payment Scheme for (https://cryptodnes.bg/en/thailand-to-launch-crypto-to-baht-payment-scheme-for-foreign-tourists/)

[7] Thailand Launches Crypto Payment Program to B... (https://coinstats.app/news/8cd2eb83022f43a7845f5faccdfccacf4fe5c65fc6df3380113cbb6698256825_Thailand-Launches-Crypto-Payment-Program-to-Boost-Tourism/)

[8] Thailand Launches TouristDigiPay (https://bitcoinist.com/crypto-goes-tropical-thailand-welcomes-tourist-spending-in-bitcoin-and-more/)

[11] UAE Model Highlights Potential Success for Thailand (https://coinmarketcap.com/community/articles/68a29f5a1ef5bf7de6c06227/)