Thailand has launched a new initiative allowing tourists to convert cryptocurrency into local currency for convenient payment of goods and services.
TouristDigiPay Initiative
The TouristDigiPay initiative will allow tourists to easily convert their digital assets into Thai baht, enabling quick QR-based payments at participating merchants.
Regulated Sandbox for Crypto Tourism
The project, guided by the Thai Securities and Exchange Commission, will operate within a regulatory sandbox to ensure compliance with KYC and AML standards. Foreign visitors will need to open accounts with approved digital asset providers that will issue a dedicated Tourist Wallet.
Spending Caps for Merchants
To prevent misuse, authorities are implementing spending caps. Large merchants with terminals can process up to 500,000 baht per month, while smaller merchants will be limited to 50,000 baht.
This initiative aims to boost tourism in Thailand by creating a more stable financial environment for tourists, highlighting the country's increasing interest in digital assets.
