Thailand will launch the "TouristDigiPay" program on Monday, allowing foreign tourists to exchange cryptocurrencies for Thai baht for electronic payments within the framework of a regulatory sandbox, with a monthly spending limit of up to 500,000 baht (about 14,000 US dollars) in a single account, aiming to boost the tourism recovery. The program is only for short-term visitors and requires strict KYC review.
Under the scheme, foreign visitors are required to open separate accounts with digital asset businesses and e-money providers regulated by the Securities Exchange Commission and the Bank of Thailand. The scheme operates within a regulatory sandbox to ensure oversight and prevent the direct use of digital assets as a payment method. Use of the service is limited to foreign visitors temporarily staying in Thailand. Participants must complete a KYC audit according to the standards of Thailand's Anti-Money Laundering Office. The service allows visitors to exchange digital assets into Thai baht and make electronic payments through QR code scanning.
Previously, it was reported that Thailand's SEC and central bank plan to launch a "crypto sandbox" to support foreign tourists to exchange crypto assets for Thai baht for consumption.
Thailand allows foreign tourists to exchange cryptocurrencies for Thai baht for electronic payments
2025-08-17 02:04:39
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