Thailand to allow crypto payments for tourists
Thailand to let tourists spend crypto via credit card-linked wallets
Thailand is moving forward with plans to allow tourists to spend cryptocurrency through credit card-linked platforms, according to Deputy Prime Minister and Finance Minister Pichai Chunhavajira.
The initiative, revealed during a Bangkok investment seminar on May 26, will let tourists link their crypto wallets to credit cards for local purchases, reports Cointelegraph.
Merchants will receive payments in Thai baht without direct exposure to crypto, reducing currency risks. The Ministry of Finance and the Bank of Thailand are currently reviewing the necessary infrastructure and regulations. A pilot rollout is expected once systems are ready.
Capital Market Reforms Aim to Modernize Financial Regulations
Pichai also announced plans to overhaul Thailand’s financial laws, including merging rules that separately govern traditional markets and digital assets. One key reform under consideration is relaxing restrictions on institutional investors like life insurers, allowing them to move beyond government bonds into equities and private sector investments.
The Ministry of Finance is also reviewing rules on treasury stocks and may regulate high-frequency trading to improve market fairness. Additionally, a draft law may expand the Thai SEC’s powers, giving it the ability to bring major cases directly to prosecutors.
Digital Asset Integration Expands with Government-Backed Tokens
Thailand continues to show strong support for digital assets, with Pichai endorsing blockchain-based solutions like “G-Tokens” to democratize access to government bonds. These tokens will allow retail investors to buy fractional units of sovereign debt, aiming to boost both investor returns and international demand for Thai bonds.
Earlier this month, the Finance Ministry announced plans to issue $150 million in tokenized bonds. The move aligns with broader efforts, including a February proposal to launch a tokenized securities trading platform for institutional investors.
Recently we wrote that KuCoin, one of the world’s leading cryptocurrency exchanges, has officially announced the launch of KuCoin Thailand — a new regional platform in collaboration with ERX Company Limited.
