Thailand has introduced the TouristDigiPay program, enabling foreign tourists to exchange cryptocurrency into Thai baht for local spending.
This innovative initiative will operate as a regulatory sandbox overseen by the country’s financial authorities, marking a significant step in integrating digital assets into its tourism sector.
Under the program, international visitors can convert their cryptocurrency holdings into baht through licensed operators. The converted funds can then be used for payments via electronic payment systems, such as QR code transactions at shops and restaurants. However, direct use of cryptocurrency as a payment method is not permitted, ensuring that all transactions remain settled in the local currency.
The Thai government has emphasized that TouristDigiPay is not intended to promote the widespread adoption of digital assets within the country or to legalize their use for everyday payments.
Instead, the program responds to growing interest from tourists who hold cryptocurrencies and seek convenient spending options during their visits. To maintain financial integrity, all participating services must comply with strict anti-money laundering (AML) regulations, while users are required to undergo thorough verification processes, including Know Your Customer (KYC) checks.
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This controlled pilot aims to test the feasibility of crypto-to-baht conversions while safeguarding against potential risks such as fraud or illicit activities. As Thailand navigates a competitive regional tourism landscape, TouristDigiPay represents a cautious yet forward-thinking approach to leveraging digital finance, tailored specifically to the needs of its international visitors.
