Thailand launches crypto-to-baht payments for tourists in regulatory sandbox

Thailand has launched a cryptocurrency conversion framework under a regulatory sandbox aimed at boosting its tourism sector by allowing foreign visitors to use digital assets for local transactions. Dubbed TouristDigiPay, the initiative permits tourists to convert their cryptocurrencies into Thai baht within a controlled environment. The program officially commenced on August 15, 2025, following a public consultation period that ended earlier in the week [1].

Tourists participating in the program must open accounts with licensed digital asset businesses and registered electronic wallet services to facilitate the exchange and use of funds. While transaction limits are in place, the exact amount has not been publicly disclosed. The initiative is designed to allow tourists to spend within a specified ceiling—though one source mentions a 500,000-baht limit—ensuring compliance with regulatory oversight [2].

The move reflects Thailand’s strategic effort to attract a new demographic of crypto-savvy travelers and to stimulate economic growth post-pandemic. Tourism is a critical component of Thailand’s economy, and the government has been actively exploring financial technology innovations to modernize its payment systems and meet the expectations of evolving consumer behavior [3].

Unlike some global digital asset frameworks, such as the EU’s MiCA, which impose stricter cross-border operational constraints, Thailand’s sandbox approach focuses on localized usage and short-term visitor participation. The initiative does not involve stablecoins, though they remain a subject in broader crypto discussions [4]. The absence of stablecoin integration suggests a cautious regulatory stance, prioritizing controlled testing over widespread adoption at this stage.

The launch aligns with broader trends in Southeast Asia, where countries are experimenting with digital asset integration to enhance financial inclusion and tourism competitiveness. As a regulatory sandbox, the project is expected to provide insights into the practicalities and risks of crypto-based payments in a controlled setting [1].

The government’s effort marks a departure from traditional fiat-based digital payment systems, signaling a shift toward a more inclusive and tech-forward financial ecosystem. The success of the program may influence future regulatory frameworks for digital assets in the region and could encourage other countries to adopt similar models [3].

Sources:

[1] Asia Fintech and Payments Regulatory Update: August 2025

https://www.linklaters.com/en/knowledge/publications/alerts-newsletters-and-guides/2025/august/15/asia-fintech-and-payments-regulatory-update-august-2025

[2] Thai Government Launches Crypto-to-Baht Scheme

https://www.nationthailand.com/business/digital-assets/40054107

[3] Thai government launches crypto-to-Baht scheme to boost

https://www.thestar.com.my/aseanplus/aseanplus-news/2025/08/17/thai-government-launches-crypto-to-baht-scheme-to-boost-tourism

[4] stablecoin: News & Updates - Page 10 of 17

https://cryptodnes.bg/en/tag/stablecoin/page/10/