Stacy Pereira
- Thailand will introduce a pilot program allowing foreign tourists to convert crypto into Thai baht for local spending.
- Conversions will be capped at 550,000 baht ~$16,950 per tourist to limit potential abuse and prevent money laundering.
- The crypto initiative aims to boost early-stage tourist spending and attract tech-savvy travellers.
Thailand officially announced the launch of an 18-month pilot programme called TouristDigiPay on August 18, 2025. The project will enable foreign tourists to convert cryptocurrencies into Thai baht for local spending. Tourists will convert their digital assets via licensed Thai crypto exchanges.
If a tourist decides to spend in Thai bahts, they can simply get their funds transferred into e-wallets of exchanges and then use them at local merchants via QR code payments. However, the scheme imposes spending limits of up to 550,000 baht. For vendors, the cap is placed at 50,000 baht per month for small merchants, and up to 500,000 baht for verified larger vendors.
Interestingly, tourists can’t take out cash whenever they want. They’ll only be able to withdraw money when they close their Tourist Wallet account. This move is to help prevent misuse.
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Tourism recovery tool
The program is aimed at increasing tourist spending by giving crypto-holding tourists access to Thai baht. This move alone could boost expenditure by around 10 percent, and inject over 175 billion baht into the economy. Officials hope this innovation will attract digitally savvy, high-spending travelers and support a tourism sector still recovering below its 2019 peak.
Thailand’s Finance Minister Pichai Chunhavajira said, “We want to take every action to facilitate foreign tourists for their stays in Thailand…This new program adds an innovation to replace overseas visitors’ cash and credit card use here.”
Thailand’s pro-crypto stance
Thailand has taken multiple steps to foster digital asset adoption. While cryptocurrencies are not recognized as legal tender, trading and holding crypto remain legal in Thailand. Nine SEC-licensed crypto exchanges operate out of the Southeast Asian country. Bitkub, which was launched in 2018, remains the dominant domestic exchange, controlling some 90% of local trading volumes.
The country is pursuing regulatory reforms to unify traditional capital market and digital asset frameworks, explore Bitcoin ETFs, and permit stablecoins backed by corporate bonds. In May, they introduced G-Tokens, a blockchain-based digital token allowing retail investors to access government bonds with very low entry thresholds.
This recent move will position Thailand as one of Asia’s most crypto-forward economies. It can be used to leverage digital finance as well as rejuvenate tourism by modernizing Thailand’s financial landscape.
