Crypto for Tourists, Baht for Merchants
Thailand has officially launched the TouristDigiPay program, a bold initiative allowing foreign tourists to convert cryptocurrencies into Thai baht for everyday spending. Announced on August 18, 2025, the program is spearheaded by the Thai SEC, the Bank of Thailand, and the Ministry of Finance, with support from the Anti-Money Laundering Office (AMLO) and the Ministry of Tourism and Sports.
The scheme will run inside a regulatory sandbox for 18 months, ensuring oversight and compliance with anti-money laundering rules. Tourists will be able to spend up to 500,000 baht per month under the program, though direct cash withdrawals are blocked.
said Deputy Prime Minister and Finance Minister Pichai Chunhavajira. Merchants, meanwhile, will only receive payment in baht, not crypto, ensuring price stability and regulatory clarity.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira. Source: Pichai Chunhavajira
Regulatory Safeguards and Risk Management
Thai regulators have stressed that the program is not about turning shops into crypto-accepting businesses, but rather about streamlining tourist spending. Payments will move through a framework that connects the digital asset trading system regulated by the SEC with the e-money system regulated by the central bank.
SEC Secretary-General Pornanong Budsaratragoon explained that Know Your Customer (KYC) and Customer Due Diligence (CDD) standards will apply to all digital asset operators and e-money providers. She said:
By focusing on oversight, Thailand hopes to balance innovation with financial integrity, limiting risks such as money laundering while still attracting crypto-savvy travelers.
A Response to Falling Chinese Tourism
The rollout of TouristDigiPay comes at a critical time. Thailand welcomed 16.8 million visitors in the first half of 2025, down from 17.7 million in the same period a year earlier. The sharpest declines came from China, with a 34% drop, and East Asia overall, which fell 24%, according to a July report by the World Tourism Institute.
This decline is partly due to tourists favoring Japan, where a weaker yen makes travel more affordable, and Vietnam, which has positioned itself as a lower-cost alternative.
“Thailand’s 5% tourism decline in 2025 underlines the urgent need for diversification, market repositioning, and enhanced visitor experiences to compete in a changing regional landscape,” the report said.
The government hopes that by embracing digital payments through crypto conversion, it can regain its competitive edge and attract tourists who prefer seamless, tech-friendly experiences.
Government Push for Digital Leadership
TouristDigiPay is not Thailand’s first experiment with crypto. In recent years, the government has sought to position itself as a regional digital innovation hub, legalizing crypto mining and supporting fintech projects in the country’s Hi-Tech Park.
Deputy Prime Minister Chunhavajira emphasized that the government will closely monitor the program’s impact, expecting a 10–15% boost in crypto-related tourism spending if successful.
Meanwhile, President Alexander Lukashenko has encouraged Thailand’s central bank to explore how digital asset adoption could strengthen its economy and improve financial inclusion.
Thailand’s Bid to Lead Southeast Asia in Crypto Tourism
The TouristDigiPay program is more than a financial experiment - it represents Thailand’s strategic push to integrate digital assets into tourism, an industry that makes up a major share of its GDP.
If successful, the model could make Thailand a trailblazer in Southeast Asia’s crypto adoption, positioning it as a hub for both tourists and investors looking for regulatory clarity and digital convenience.
