Thailand Rolls Out Crypto-to-Baht Payments for Tourists

Thailand has launched “TouristDigiPay,” a regulated crypto-to-baht payment scheme designed to boost tourism while safeguarding against financial crime.

Thailand has officially rolled out a new digital payment initiative that allows foreign visitors to spend cryptocurrency in exchange for Thai baht across the country. The program, called “TouristDigiPay,” goes live on August 18 and represents the government’s latest effort to revive tourism revenues through financial innovation.

The scheme operates under a regulatory sandbox with strict compliance measures, including Know Your Customer (KYC) checks, transaction limits, and restrictions on high-risk merchants. Officials say the framework is intended to balance ease of use for tourists with robust safeguards against money laundering and other financial crimes.

Government Push for Tourism Recovery

Deputy Prime Minister and Finance Minister Pichai Chunhavajira introduced the program alongside regulators from the Finance Ministry, Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports.

The rollout comes amid a noticeable slowdown in international arrivals, particularly from China, which traditionally represents one of Thailand’s largest tourism markets. By expanding digital payment options, the government hopes to attract new groups of travelers who already hold digital assets.

To use the system, visitors must:

• Open an account with SEC-regulated digital asset businesses and Bank of Thailand (BOT)-licensed e-money providers.
• Undergo customer due diligence checks.
• Convert digital assets into baht only through licensed operators.
• Spend funds electronically via QR codes and other cashless methods.

Direct cash withdrawals are not permitted, and participation is strictly limited to foreign tourists temporarily staying in the country.

“Tourist Wallet” for Seamless Payments

Thailand’s central bank has been working with payment providers to create a dedicated “Tourist Wallet.” According to Naphongthawat Phothikit, senior director at the BOT’s Payment Systems and Financial Technology Policy Department, the service is designed to simplify QR code payments for tourists whose home countries lack cross-border QR agreements with Thailand.

Initially, the Tourist Wallet will function as an e-money service for currency conversion, but future updates could allow direct linkage with foreign debit and credit cards.

Spending limits will be enforced to mitigate misuse:

• 500,000 baht per month for accounts used at merchants with card terminals.
• 50,000 baht per month for transactions at small-scale merchants.

Businesses flagged as high-risk by AMLO guidelines will be excluded from participation. Tourists may withdraw their balance only upon account closure, not as cash during their stay.

Expanding Thailand’s Digital Asset Strategy

The launch of TouristDigiPay builds on Thailand’s broader efforts to integrate blockchain technology and digital assets into its financial system. In June 2025, the Cabinet approved a five-year personal income tax exemption on capital gains from digital assets, applying exclusively to transactions conducted on SEC-licensed platforms. The exemption, valid from January 1, 2025, through December 31, 2029, is expected to help position Thailand as a regional digital asset hub.

Deputy Finance Minister Julapun Amornvivat said the measure is aimed at attracting foreign capital while stimulating domestic digital asset markets. Officials project the policy could indirectly generate over 1 billion baht in additional tax revenue through increased economic activity.

At the same time, regulators have tightened oversight. In May, the SEC blocked access to five unlicensed global exchanges, including Bybit, CoinEx, and OKX, citing concerns over investor protection and money laundering.

Meanwhile, the government launched $150 million worth of blockchain-based “G-tokens” earlier this year, giving retail investors access to government bonds with minimum investments as low as $3. The initiative is designed to broaden financial inclusion in traditionally institutional markets.

Thailand in a Growing Global Trend

Thailand is not alone in experimenting with crypto-powered tourism. In May 2025, Bhutan became the first nation to introduce a national-level crypto tourism payment system, in partnership with Binance Pay and DK Bank. Visitors can use over 100 cryptocurrencies to pay for flights, hotels, visas, and even roadside purchases, with instant settlement into local currency and no gas fees.

More than 100 Bhutanese merchants, including rural artisans, were onboarded to the system, which directly addresses high card transaction fees and poor foreign exchange access for small businesses.

France has also seen regional adoption. On the French Riviera, more than 80 businesses now accept crypto payments following a partnership between Binance Pay and fintech firm Lyzi. Tourists can use stablecoins and other cryptocurrencies at hotels, luxury retailers, and restaurants across Cannes, Nice, Antibes, and Monaco via QR codes.

Industry Reactions and Concerns

While Thailand’s scheme is being praised for its innovation, not all stakeholders are fully prepared. The Tourism Council of Thailand raised concerns during the consultation process, pointing out gaps in ecosystem readiness and industry awareness.

Vice President Bhummikitti Ruktaengam noted that many Phuket tourism stakeholders were not even aware of the consultation, underscoring the challenge of engaging local businesses in nationwide financial reforms. Money laundering risks also remain a persistent concern, especially given the rise of illicit foreign business activity.

In parallel, Thailand’s SEC has advanced new listing rules for local exchanges. These include requiring exchanges to disclose related-party connections for exchange-issued tokens, aligning local standards with evolving technology and market practices. In May, the Maxbit exchange became the first in Thailand to list Tether’s gold-backed token XAU₮, giving traders exposure to tokenized physical gold stored in secure vaults.

A Strategic Balancing Act

Thailand’s launch of TouristDigiPay highlights the country’s dual approach: embrace innovation to strengthen economic competitiveness while maintaining tight controls to prevent abuse.

For tourists, the system offers a convenient alternative to costly foreign exchange and limited card acceptance, potentially making Thailand a more attractive destination for the growing class of crypto holders. For policymakers, it represents a strategic bet on digital assets as a driver of tourism recovery and long-term economic growth.

As global travel rebounds and competition among destinations intensifies, Thailand’s willingness to integrate crypto payments into its tourism infrastructure may well determine its ability to capture new waves of international visitors. Thailand was not previously ranked among the Top 10 Crypto-Friendly Countries in 2025, but the launch of TouristDigiPay signals that the nation is positioning itself to join that race. The program’s success will ultimately depend on striking the right balance between accessibility, compliance, and trust—an equation many other countries in the region are now closely watching.