Thailand is preparing to change its tourism industry with the launch of the TouristDigiPay program, starting on August 18, 2025. This program will offer the ability to exchange cryptocurrency for Thai baht for seamless QR code payments.
Launch of TouristDigiPay
The TouristDigiPay program, which will allow foreign tourists to exchange cryptocurrency for Thai baht for QR code payments, is set to launch on August 18, 2025. This initiative aims to attract tech-savvy travelers in light of declining tourism.
Program Conditions and Oversight
The program will operate under a regulatory sandbox overseen by the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT). Key to the initiative are strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, aligning with global trends in crypto-financial security. Tourists will have monthly spending limits set between 50,000 and 500,000 baht, depending on the merchant type.
Impact on the Tourism Industry
The launch of TouristDigiPay could help Thailand revive its tourist flow, particularly in light of the drop in Chinese visitors. According to a 2024 SEC report, 15% of global crypto transactions are tied to tourism spending, which opens up opportunities for growth in Web3 enthusiasts in the country. However, challenges such as KYC processes and merchant participation may arise.
If successful, the TouristDigiPay program could set a precedent for other nations, demonstrating how blockchain technology can coexist with the real economy and enhance the growth of the tourism sector.
