Thailand Launches Crypto-to-Baht Tourism Payment Sandbox

Thailand is set to introduce a regulatory sandbox program allowing foreign visitors to convert cryptocurrencies into Thai baht for electronic payments, aiming to revitalize its tourism sector. Known as TouristDigiPay, the initiative will enable tourists to exchange digital assets into local currency through e-money service providers, provided they undergo Know Your Customer (KYC) checks and open accounts with licensed digital asset and e-money institutions [1]. The program is expected to launch as early as August 18, 2025, with details to be officially announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira [2].

Under the TouristDigiPay framework, monthly transaction limits and restrictions on cash withdrawals will be implemented to mitigate risks and ensure financial stability. The system is built around QR code-based transactions, enabling tourists to make purchases at participating merchants through a digital wallet [3]. High-risk merchants will be excluded from the network to prevent potential misuse and maintain the integrity of the program [4].

The initiative is part of Thailand’s broader efforts to modernize its financial system and attract a new wave of crypto-savvy travelers. A pilot project in Phuket, one of the country’s top tourist destinations, has already been in development since January 2025 [5]. The sandbox model will allow regulators to closely monitor the impact of digital assets on tourism without exposing the broader economy to crypto volatility [6].

The need for such a program has become increasingly urgent as Thailand’s tourism sector faces a decline in international visitors, particularly from East Asia and China. According to a July 10 report by The World Tourism Institute, Thailand received around 16.8 million tourists in the first half of 2025, a drop from 17.7 million in the same period the previous year. The report noted a 24% decline in visitors from East Asia and a 34% drop in Chinese tourists, citing competition from more affordable destinations like Japan and Vietnam [7].

The initiative follows a public consultation on digital assets launched by Thailand’s Securities and Exchange Commission (SEC) on August 13, 2025. The government has also been actively exploring how crypto can support economic and tourism growth, with Finance Minister Chunhavajira first announcing TouristDigiPay at an investment seminar in Bangkok in May [8].

Globally, Thailand is joining a growing number of countries experimenting with crypto in tourism. For instance, Bhutan has partnered with Binance Pay and DK Bank to enable crypto payments for local expenses, while the United Arab Emirates recently signed an agreement with Crypto.com to allow in-flight purchases using digital assets [9]. The shift reflects a broader trend of integrating crypto into mainstream commerce and travel services, with Thailand positioning itself as a forward-thinking destination in Southeast Asia [10].

The success of TouristDigiPay will depend on factors such as user adoption, transaction volume, and the overall economic impact. Regulators will closely monitor the sandbox to assess its feasibility for wider implementation in the future. If the program proves effective, it could serve as a model for other nations seeking to leverage digital assets to enhance tourism and cross-border commerce [11].

Sources:

[1] Thailand to Launch Crypto-to-Baht Payment Scheme for Foreign Tourists, https://cryptodnes.bg/en/thailand-to-launch-crypto-to-baht-payment-scheme-for-foreign-tourists/

[2] Thailand wields crypto conversion to strengthen tourism, https://www.mexc.com/news/thailand-wields-crypto-conversion-to-strengthen-tourism/65641

[3] Thailand Launches Tourist Crypto Wallet to Spend Crypto in Baht, https://en.cryptonomist.ch/2025/08/17/thailand-launches-tourist-crypto-wallet-to-spend-crypto-in-baht/

[4] Thailand pitches crypto-to-baht QR payments sandbox to ..., https://finance.yahoo.com/news/thailand-pitches-crypto-bah-092525038.html

[5] Thailand to Launch Crypto Exchange Plan for Tourists on August 21, 2025, https://www.kucoin.com/news/flash/thailand-to-launch-crypto-exchange-plan-for-tourists-on-august-21-2025

[6] Thailand Launches Crypto Payment Program for Foreign ..., https://www.mitrade.com/insights/news/live-news/article-3-1046063-20250817

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

[8] Thailand Prepares for Crypto Payments Sandbox to Boost ..., https://www.ainvest.com/news/thailand-prepares-crypto-payments-sandbox-boost-tourism-2508

[9] Thailand is reportedly planning a nationwide regulatory sandbox allowing foreign visitors to convert crypto into local currency for electronic payments in a bid to boost tourism, https://cointelegraph.com/news/thailand-plans-launch-crypto-payment-tourists