It is reported that Thailand is planning to launch a nationwide regulatory pilot program that allows foreign tourists to exchange cryptocurrency for local currency for electronic payments, in order to promote the development of the tourism industry.
The program, named TouristDigiPay, is expected to officially launch on Monday, allowing users to exchange cryptocurrency for Thai baht and make electronic payments through electronic money service providers.
It is limited to tourists in Thailand who have completed KYC (Know Your Customer) due diligence and have opened accounts with digital asset service providers and electronic money service providers regulated by the Bank of Thailand and the Securities and Exchange Commission.
Additionally, the plan includes safeguards such as monthly spending limits and a prohibition on direct cash withdrawals. Deputy Prime Minister and Finance Minister Pichai Chunhavajira is expected to announce the full details of the TouristDigiPay program on Monday.
According to The Nation, the TouristDigiPay program aims to inject new vitality into Thailand's tourism industry and directly address the decline in the number of foreign tourists, especially from Chinese tourists, who have long been considered a pillar of the industry.
In the first half of 2025, Thailand received approximately 16.8 million tourists, a decrease from 17.7 million during the same period last year. According to a report released by the World Tourism Research Institute on July 10, the number of tourists from East Asia has decreased by 24%, and the number of Chinese tourists has decreased by 34%.
The report points out that tourists are turning to other countries in the region, such as Japan, which is attracting visitors due to the weakening yen, and relatively cheaper Vietnam.
The report states, "Thailand's tourism industry is expected to decline by 5% in 2025, highlighting the urgent need to diversify, reposition the market, and enhance the tourist experience in a changing regional landscape."
The Thai government has been considering using cryptocurrency to stimulate the tourism industry. The country's Securities and Exchange Commission completed a public consultation on August 13 regarding the use of financial innovation and digital assets to promote economic and tourism growth.
Chunhavajira first announced the TouristDigiPay program at an investment seminar held in Bangkok on May 26.
In January of this year, Thailand announced a pilot program in the popular tourist destination of Phuket, allowing foreign tourists to use cryptocurrency to pay for goods and services. This pilot project is still underway.
The South Asian country of Bhutan is also actively integrating cryptocurrency payments into its tourism industry, such as Binance Pay collaborating with local DK Bank, allowing users to pay for various travel expenses with cryptocurrency.
Jeff Bezos's Blue Origin signed a partnership agreement with Shift4 Payments on August 11, offering customers the option to pay for space travel expenses with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), as well as stablecoins like USDT and USDC.
Additionally, the United Arab Emirates signed an agreement with Crypto.com in July, allowing passengers to use cryptocurrency to pay for flight tickets and onboard services.
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Original: “Thailand plans to launch crypto payment pilot for tourists”
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