Thailand Launches TouristDigiPay for Crypto to Baht Conversions

Thailand has launched a pilot program called TouristDigiPay, allowing foreign tourists to convert their cryptocurrencies into Thai baht for local spending. The initiative, introduced on August 18, 2025, is designed to enhance the tourism sector by integrating digital payment solutions and aligning with the growing use of crypto among travelers [2]. The program is part of a regulatory sandbox managed by the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office, and the Ministry of Tourism and Sports [2]. It is set to run for an initial 18-month period [2].

Under TouristDigiPay, foreign visitors can open a digital wallet upon arrival, which allows them to convert their crypto holdings—such as Bitcoin, Ethereum, and stablecoins—into baht through regulated e-money institutions. This wallet also supports the linking of foreign debit and credit cards, offering tourists additional payment flexibility [2]. The conversion process is facilitated via QR code-based transactions at participating merchants, enabling real-time currency conversion and direct spending in local currency [2].

The initiative is not intended to promote cryptocurrencies as a direct means of payment but rather to provide an intermediary conversion system that supports tourism growth. The system includes safeguards such as anti-money laundering protocols, know-your-customer (KYC) requirements, and spending limits to ensure compliance and reduce the risk of misuse [2]. Stablecoins, which are pegged to more stable assets like the U.S. dollar, are also supported to mitigate the volatility typically associated with cryptocurrencies [2].

Thailand has previously demonstrated a proactive approach to digital assets, including the recent exemption of crypto transactions from capital gains tax until the end of 2029. This regulatory environment is intended to foster digital economy growth and attract a new generation of travelers who prefer digital payment methods [2].

For local businesses, particularly in tourist-heavy areas such as Bangkok, Phuket, and Chiang Mai, the program offers new opportunities to engage with international customers. The faster settlement times and lower transaction fees compared to traditional credit card systems can lead to increased revenue for small vendors [2]. The government expects that, as the program expands, more merchants will adopt crypto-friendly payment methods, further boosting the country’s digital tourism offerings.

However, the success of the program will depend on factors such as merchant digital literacy and the ongoing stability of supported cryptocurrencies. While the use of stablecoins helps reduce volatility risks, continued regulatory oversight and public education will be key to ensuring the program's long-term viability [2].

By embracing digital currencies in tourism, Thailand is positioning itself as a global leader in integrating crypto into economic and travel ecosystems. The TouristDigiPay initiative not only enhances the visitor experience but also sets a potential model for other nations seeking to adapt to the evolving digital landscape [2].

Source:

[1] title1.............................(https://m.economictimes.com/nri/visit/thailand-to-allow-foreign-tourists-to-convert-crypto-to-baht/articleshow/123360917.cms)

[2] title2.............................(https://www.travelandtourworld.com/news/article/thailand-revolutionizes-travel-with-crypto-payments-for-an-effortless-vacation-heres-what-travellers-need-to-know/)

[3] title3.............................(https://www.ainvest.com/news/thailand-launches-touristdigipay-boost-tourism-crypto-baht-conversions-2508/)