Thailand unveils nationwide crypto payment sandbox for foreign tourists
Thailand is preparing to launch TouristDigiPay, a nationwide regulatory sandbox that enables foreign visitors to exchange cryptocurrency for Thai baht and make digital payments through licensed e-money providers.
The program will go live on Monday and is part of an effort to boost tourism through financial innovation, reports Cointelegraph.
Tourists must undergo Know Your Customer (KYC) checks and open accounts with regulated digital asset businesses and payment providers. While crypto-to-fiat conversion is allowed, direct cash withdrawals will be restricted, and spending limits will be enforced. Full details will be announced by Finance Minister Pichai Chunhavajira.
Crypto payments aimed at reversing tourism slump
Officials hope the crypto payments initiative will revive Thailand’s struggling tourism sector, which has seen a marked decline in foreign arrivals. In the first half of 2025, only 16.8 million tourists visited the country, down from 17.7 million a year earlier. The drop has been particularly sharp from East Asia, with Chinese tourism down by 34%.
Nearby countries like Japan and Vietnam have become more attractive due to favorable currency exchange rates and lower prices. Thai officials believe that embracing digital payments could differentiate Thailand and appeal to tech-savvy tourists, particularly digital nomads.
Thailand tests crypto innovation in tourism
The launch of TouristDigiPay follows earlier efforts to experiment with cryptocurrency in Thailand’s tourism hotspots. A pilot project announced in January aimed to allow crypto payments in Phuket, although that trial is still pending. Chunhavajira first revealed the nationwide plan in May during a Bangkok investment seminar.
On August 13, the Thai SEC completed a public consultation on digital asset innovation to support economic development. As Thailand continues to explore crypto’s role in tourism, officials believe it could offer new competitive advantages in a shifting regional travel landscape.
Recently we wrote that the Financial Services Agency (FSA) of Japan is preparing to approve the issuance of yen-backed stablecoins as early as this fall.
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