Thailand Launches TouristDigiPay Crypto to Baht Conversion Sandbox

Thailand has launched a 18-month regulatory sandbox program called TouristDigiPay, allowing foreign tourists to convert cryptocurrency into Thai baht for local electronic transactions. The initiative, launched on August 18, 2025, is designed to stimulate the tourism sector and modernize digital payments by leveraging blockchain technology [12]. Tourists must first undergo identity verification before opening accounts with licensed digital asset firms and e-money providers. Only institutions approved by the Bank of Thailand and the Securities and Exchange Commission are permitted to participate in the scheme [2].

Under the system, travelers can exchange digital assets such as Bitcoin and stablecoins for Thai baht using a digital wallet known as the “Tourist Wallet.” The wallet supports QR code-based transactions, enabling seamless payments for goods and services [2]. However, direct use of cryptocurrencies is not allowed. The converted baht must be used for purchases, with spending limits imposed to mitigate financial risks. Large merchants with card terminals are capped at THB 500,000 per month, while small-scale merchants face a limit of THB 50,000 [7]. High-risk businesses identified by the Anti-Money Laundering Office are excluded from the program.

Cash withdrawals are also restricted. Tourists can only withdraw funds after closing their digital wallet accounts, a measure aimed at reducing fraud and ensuring compliance with anti-money laundering regulations [7]. This controlled framework emphasizes consumer protection and regulatory oversight while maintaining financial integrity.

The launch of TouristDigiPay comes at a time when Thailand’s tourism industry is showing signs of recovery, albeit at a slower pace than previous years. In the first half of 2025, the country recorded 16.8 million arrivals, a decline from 17.7 million in the same period last year. East Asian visitors dropped by 24 percent, with Chinese tourists down by 34 percent [7]. The initiative is part of a broader effort to attract crypto-friendly travelers and modernize the payment infrastructure for tourism [7].

Thailand’s regulatory approach reflects a strategic shift toward digital finance. In June, the government announced a five-year tax exemption for crypto profits earned from transactions on licensed platforms. This policy, set to last until 2029, aims to encourage investment and innovation in the digital asset space [7]. Additionally, the country is developing a “Tourist Wallet” that may eventually support foreign debit and credit card integration, further enhancing convenience for international visitors [4].

By integrating digital finance into its tourism strategy, Thailand is positioning itself as a leader in fintech innovation within the region. The regulatory sandbox model enables controlled experimentation while maintaining oversight, a framework that aligns with global trends in digital payments and blockchain adoption [12]. The program’s success could influence other nations considering similar initiatives for cross-border tourism and digital finance.

Source:

[1] Thailand Launches TouristDigiPay for Crypto to Baht ... (https://www.ainvest.com/news/thailand-launches-touristdigipay-crypto-baht-conversions-2508/)

[2] Thailand to allow foreign tourists to convert Crypto to Baht (https://m.economictimes.com/nri/visit/thailand-to-allow-foreign-tourists-to-convert-crypto-to-baht/articleshow/123360917.cms)

[4] Thailand Crypto News: Tourist Wallet Rolls Out, With ... (https://www.coindesk.com/policy/2025/08/18/thailand-s-tourist-wallet-rolls-out-with-crypto-link-still-stuck-in-sandbox)

[7] Thailand Introduces Crypto-To-Baht Payment Scheme To ... (https://www.travelandleisureasia.com/th/news/thai-government-launches-crypto-to-baht-scheme/amp/)

[12] Thailand to launch crypto payment sandbox for tourists (https://cointelegraph.com/news/thailand-plans-launch-crypto-payment-tourists)