Thailand is launching an innovative initiative, 'TouristDigiPay,' to integrate digital currencies into its tourism payment ecosystem. The program, set to commence in the fourth quarter of 2025, will allow foreign visitors to convert popular digital assets like Bitcoin and Ethereum into Thai Baht. This move aims to streamline transactions and boost the nation's vital tourism sector, which has experienced a slowdown, particularly from key markets like China.
In the first half of 2025, Thailand welcomed approximately 16.8 million tourists, a decrease from the 17.7 million recorded in the same period the previous year. This decline, especially from East Asia, has prompted the government to explore new avenues for attracting global travelers, including the growing demographic of cryptocurrency holders. The 'TouristDigiPay' program is a strategic response to these trends, positioning Thailand as a forward-thinking destination.
The initiative will operate within a regulatory sandbox for an 18-month trial period. It is a collaborative effort involving the Ministry of Finance, the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports. To ensure security and compliance, participants must open accounts with regulated digital asset and e-money providers, undergoing stringent Know Your Customer (KYC) and anti-money laundering (AML) checks. These measures are crucial for safeguarding both tourists and merchants and preventing illicit financial activities.
To mitigate risks, 'TouristDigiPay' incorporates several safeguards, including monthly spending limits. Merchants equipped with card terminals will have a cap of 500,000 Thai Baht, while smaller, general merchants will be limited to 50,000 Thai Baht per month. Direct cash withdrawals are prohibited, with funds only accessible upon account closure. Transactions at businesses identified as high-risk for money laundering will also be restricted.
This initiative aligns with global trends in crypto tourism, offering benefits such as reduced transaction fees and enhanced convenience. The Bank of Thailand is also developing a 'Tourist Wallet' to further simplify QR code payments for foreign visitors, with future plans for integration with foreign debit and credit cards, promising an even more seamless payment experience.