Thailand has announced plans to roll out TouristDigiPay, a scheme that will allow tourists to convert crypto into Thai baht for everyday electronic payments, on August 18. The launch is coming at a time when the tourism industry of the country has recorded a drop this year.
Tourists who prefer to use crypto in Thailand will have to first open accounts with both a regulated digital asset provider and an e-money service provider. It will come directly under the oversight of the SEC and the Bank of Thailand (BOT).
Thailand announces plans to launch TouristDigiPay
According to the announcement, users who prefer to convert their crypto to baht will need to undergo strict KYC and anti-money laundering checks. Once it is approved, they will be able to spend via electronic payments, including QR codes. However, they won’t be allowed to withdraw to limit financial crime.
The scheme is expected to be rolled out under a regulatory sandbox, allowing regulators the flexibility to test and monitor the system in real-world conditions. However, spending limits will be imposed to ensure financial stability and oversight. It added that the service is restricted only to foreign tourists staying temporarily in Thailand.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira will officially unveil the program. He will be accompanied by senior officials from the Finance Ministry, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports. Cryptopolitan previously reported that after a recent public consultation, Thailand’s SEC explored ways digital assets could support tourism and economic growth.
The feedback window closed on August 13. Data shows that digital asset ownership surged 6.38% last year. It reached 617 million holders worldwide. The global digital assets market recently broke through the $4 trillion market cap as Bitcoin price went on to hit a fresh all-time high (ATH) above $124K. BTC price is running up by 28% on a year-to-date basis. The biggest altcoin, Ethereum, came close to dismantling its ATH of $4890. However, it has outperformed Bitcoin on YTD gains with a 35% surge.
The stablecoin market has seen a massive surge in 2025, while US President Donald Trump signed a law to create a regulatory structure for dollar-pegged coins. The bill, known as the GENIUS Act, received 308 against 122 votes in the House of Representatives. The cumulative stablecoin market cap stood strong above $286 billion on Sunday morning with a trading volume of $115 million. Tether’s USDT is leading the race with 166.65 billion circulating supply.
