Thailand has launched a nationwide crypto payment system that will allow foreign tourists to convert digital currencies into Thai baht for their purchases. The initiative, ‘TouristDigiPay’, has been launched to address a major decline in tourism this year.
Pichai Chunhavajira, the country’s Deputy Prime Minister and Finance Minister, announced the initiative at a press conference. Officials from the Finance Ministry, Securities and Exchange Commission (SEC), Anti-Money Laundering Office, and Ministry of Tourism and Sports joined him.
The Thai government first announced the concept during an investment seminar on May 26 in Bangkok. It was thereafter tested in Phuket, one of Thailand’s top tourist destinations. After the successful trial, the Thai government decided to move forward with the full launch.
How the System Is Designed to Work
Only foreign tourists staying temporarily in Thailand will be able to use this service. They must open accounts with both a digital asset business and an e-money provider that Thailand’s SEC and Bank of Thailand regulate. The system requires users to complete strict Know Your Customer checks and customer due diligence procedures before they can access the service.
The system runs within a regulatory sandbox that includes built-in safeguards. All users face monthly spending limits, and the system prohibits direct cash withdrawals. Tourists can exchange their digital assets for baht and make electronic payments through methods like QR code scanning.
Naphongthawat Phothikit, a senior director at the BOT’s Payment Systems and Financial Technology Policy Department, says the central bank has worked with e-money service providers to develop the ‘Tourist Wallet’.
This service will make QR code payments easier, especially for tourists from countries that don’t have existing cross-border QR payment agreements. The Tourist Wallet will start as an e-money system for currency conversion. The bank plans to link it directly to foreign debit and credit cards later.
The system sets transaction limits to reduce financial crime risks like money laundering. Small, general merchants face a limit of 50,000 baht per month. The system will block transactions at businesses that Anti-Money Laundering guidelines consider high-risk for money laundering. Tourists can only withdraw money when they close their accounts.
Tourism Industry Challenges Faced By The Country
The program targets Thailand’s struggling tourism sector, which saw the number of visitors drop by 5% in the first half of 2025. Thailand faces strong competition from regional destinations that offer better value. For instance, Japan attracts more visitors because of its weakened yen, while Vietnam draws tourists due to lower prices for tourists.
The World Tourism Institute noted that tourists increasingly pick alternative destinations in the region. “Thailand’s 5% tourism decline in 2025 shows the urgent need for diversification, market repositioning, and better visitor experiences to compete in a changing regional landscape,” the institute stated in a July 10 report.
Thailand joins other countries that embrace cryptocurrency for tourism. Bhutan partnered with Binance Pay and DK Bank to accept crypto payments from visitors. The United Arab Emirates signed an agreement with Crypto.com in July that allows passengers to pay for flights using digital currencies.
