Thailand to Launch Crypto Payment
In a bid to boost tourism and spending, Thailand has introduced TouristDigiPay, a crypto-to-baht-payment scheme. Specifically, authorities launched the program on August 18, 2025, following a slump in tourist arrivals, a key contributor to the Thai economy. In particular, government data shows that Chinese arrivals declined by 12% versus the previous year. As a result, lawmakers are looking for creative ways to revitalize tourism.
Crypto to Baht Scheme
Overall, TouristDigiPay allows foreign visitors to convert cryptocurrency into Thai baht for use at merchants nationwide. However, payments occur only in baht, not directly in crypto.
Tourists must register with licensed vendors under the Securities and Exchange Commission and providers overseen by the Bank of Thailand. Furthermore, strict KYC and anti-money laundering checks are necessary under AMLO (Anti-Money Laundering Office) standards.
Correspondingly, payments happen through QR codes linked to a dedicated “Tourist Wallet.” Notably, this bars cash withdrawals unless the tourist closes an acocunt.
Meanwhile, spending has a limit at 500,000 baht monthly for terminal merchants, and 50,000 baht for small ones. Moreover, this continues to exclude high-risk merchant categories.
“By bringing real-world blockchain utility into its tourism sector, Thailand is proving that mass adoption happens when crypto solves real problems, not just hype,” reacted X user Joshua Udo.
Government Strategy and Oversight
In particular, the crypto to baht scheme operates within a regulatory sandbox, helping ensure monitoring and adjustment before full-scale implementation.
Previously, Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the initiative alongside SEC, BOT, AMLO, and Tourism Ministry officials.
The program follows earlier consultations that ended on August 13, as well as a pilot run in Phuket earlier this year. Therefore, TouristDigiPay reflects a cautious but forward-looking policy approach.
Potential Benefits of Crypto System
In time, the Thai government hopes to attract crypto-savvy travelers and diversify revenue streams. Consequently, visitors who hold digital assets may find it easier to spend locally. For example, many Southeast Asian tourists already use QR code payments.
Moreover, Thailand’s program also draws parallels with other markets. Bhutan, for instance, adopted Binance Pay, while the UAE integrated digital asset solutions into its tourism sector. Thus, TouristDigiPay could serve as a model for regional adoption.
Challenges Ahead
Nevertheless, challenges remain. Complex onboarding and identity verification may discourage casual tourists. In addition, crypto volatility poses risks for spending predictability. If the baht value shifts after conversion, visitors may hesitate to commit funds.
Meanwhile, merchant readiness also matters. Unless businesses adopt the system smoothly, uptake could lag. Additionally, tourists expect reliability when making quick purchases. Therefore, widespread education and technical support for merchants will be critical.
Outlook for Tourism Revival
Previously, Thailand welcomed 25 million visitors in 2024, generating nearly $35 billion in revenue. Officials aim to exceed that figure in 2025 despite current headwinds. As such, TouristDigiPay is one piece of a broader strategy that includes marketing campaigns and infrastructure upgrades.
If the Thai government executes the crypto to baht program well, it could reinvigorate tourism spending while aligning Thailand with global digital trends. However, its success will depend on smooth user experiences, robust compliance, and merchant adoption.
Photo: Freepik
