Thailand Launches TouristDigiPay to Boost Tourism with Crypto-to-Baht Conversions

Thailand is set to roll out a groundbreaking regulatory initiative known as TouristDigiPay, allowing foreign tourists to convert their cryptocurrencies into Thai baht for local transactions. The program, officially launched on August 18, 2025, is designed to facilitate digital payments through a sandbox framework involving licensed e-money institutions and digital asset service providers. Under the scheme, eligible tourists must complete Know Your Customer (KYC) verification and open accounts with regulated entities before they can use a digital wallet to make QR code-based transactions [1]. Monthly transaction limits and restrictions on cash withdrawals will be enforced to mitigate risks and prevent misuse [2]. High-risk merchants will be excluded from the system to maintain the integrity of the pilot.

The initiative aims to address a significant decline in Thailand’s tourism sector. According to a July 2025 report from The World Tourism Institute, the country received 16.8 million tourists in the first half of the year, down from 17.7 million in the same period in 2024. The 24% drop in visitors from East Asia, particularly a 34% decline in Chinese tourists, has raised concerns over the long-term sustainability of Thailand’s tourism-dependent economy. The shift in traveler preferences is partly attributed to more affordable alternatives such as Japan and Vietnam [3]. As a response, officials hope TouristDigiPay will attract a new segment of crypto-savvy travelers and enhance the overall visitor experience [4].

TouristDigiPay builds on earlier efforts to integrate digital assets into Thailand’s financial infrastructure. A trial version of the program was launched in Phuket in January 2025, and a public consultation on digital asset usage in tourism was completed on August 13, 2025. Finance Minister Pichai Chunhavajira first announced the initiative during an investment seminar in May 2025, signaling the government’s commitment to leveraging fintech innovation for economic recovery [5]. The regulatory sandbox model allows authorities to monitor the program’s economic impact while minimizing exposure to the volatility of crypto markets [6].

Globally, Thailand is not alone in exploring crypto-based tourism solutions. Bhutan, for instance, has partnered with Binance Pay and DK Bank to enable crypto-based local expenses, while the United Arab Emirates has introduced crypto payment options for in-flight services. These developments highlight a growing international trend of using digital currencies to enhance the tourism sector [7]. If the TouristDigiPay model proves successful, it could serve as a template for other nations seeking to leverage cryptocurrencies for cross-border tourism and commerce [8].

The long-term effectiveness of the initiative will depend on factors such as tourist adoption rates, transaction volumes, and broader economic impacts. The Thai government’s ability to strike a balance between innovation and regulation will be critical in determining whether TouristDigiPay can help reposition Thailand as a leading destination in a rapidly evolving global tourism landscape [9].

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 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/

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

[4] 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

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

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

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

[8] Thailand Launches TouristDigiPay Crypto Payment System, https://www.ainvest.com/news/bitcoin-news-today-thailand-launches-touristdigipay-crypto-payment-system-international-travelers-2508