Thailand has announced the launch of a new system that enables foreign tourists to convert cryptocurrency into baht, aimed at supporting the tourism sector.
Launch of the TouristDigiPay System
On August 18, Thailand will launch an initiative called 'TouristDigiPay', which will allow foreign travelers to convert their digital assets into Thai baht through regulated electronic payment channels. The official announcement will be made by Deputy Prime Minister and Finance Minister Pichai Chunhavajira at a press conference alongside representatives from the Ministry of Finance and other agencies.
Participation Conditions for Tourists
Foreign tourists will be able to convert their cryptocurrency into baht and use the funds for electronic payments, such as QR code payments. However, direct use of digital assets for purchases will not be permitted. To participate in the program, tourists must open accounts with a licensed digital asset business and an e-money provider. Eligibility is restricted to temporary visitors from abroad.
Expectations from the New Project
Officials believe the TouristDigiPay scheme will provide a new channel for tourists to spend money in Thailand while strengthening the country's position as a regional hub for digital finance. The initiative also aims to revive the tourism sector, which has seen a significant decline due to reduced visitor numbers, especially from China.
The launch of TouristDigiPay may become an important step in restoring tourist traffic to Thailand and improving the country's economy through the integration of digital finance.
