- Thailand launches TouristDigiPay regulatory sandbox allowing foreign tourists to convert cryptocurrencies to Thai baht for electronic payments.
- Program includes strict KYC requirements, spending limits, and joint regulation by Bank of Thailand and Securities Exchange Commission.
Thailand launches TouristDigiPay, the first regulatory sandbox that allows foreign tourists to exchange digital currencies with Thai baht to easily make electronic payments. This new project is a strategic move by Thailand to counter the decreasing number of tourists and to revive the failing tourism industry by adopting cryptocurrency.
Government Initiative Targets Tourism Recovery
TouristDigiPay is an official launch on Monday, which will enable international tourists to convert cryptocurrencies into local currencies by using regulated e-money service providers. Foreigners have to undergo rigorous Know Your Customer checks to be able to use these online payment systems on Thai soil.
Tight regulatory controls involve setting limits to monthly expenditures and banning the direct withdrawal of cash in the conversion of cryptocurrencies. All the digital asset businesses and the providers of electronic money will be regulated together by the Bank of Thailand and the Securities and Exchange Commission.
Details of the entire program will be announced Monday by the deputy prime minister Pichai Chunhavajira, after months of planning and consultation. The project is based on the fact that Thailand is in dire need of reversing the major losses in tourism, especially that of Chinese tourists who are the ones that have been spurring the industry in the country.
Thailand tourism data indicates that the country received 16.8 million visitors in the first half of 2025, which is a significant decline compared to the 17.7 million visitors recorded in the previous year. The number of East Asian tourists declined by 24% and Chinese visitor arrivals declined by 34% against the performance levels of the previous year.
The regional rivals such as Japan enjoy the advantage of better exchange rates whereas Vietnam offers low overall prices to the budget travelers. Thailand is under pressure to innovate and distinguish its tourism products as regional competition to attract international tourists increases.
In August, the government concluded public consultations on financial innovation and digital assets that facilitate economic growth. Previous announcements have involved the prospect of cryptocurrency payment trials in Phuket, the leading tourist destination in Thailand, but this is still in the process of being done.
Thailand is following the international trends of integrating crypto-tourism, as Bhutan has already partnered with Binance Pay to receive payments of tourists. The latest events are Blue Origin accepting Bitcoin to travel to space and UAE airlines collaborating with Crypto.com to buy flights.
This regulatory sandbox is one of the strategic bets that Thailand is taking on cryptocurrency technology to spur tourism recovery and economic diversification initiatives.
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