Thailand now letting foreign travellers convert crypto to local currency Baht for travel spend

 

Thailand is set to open a new chapter in tourism by letting foreign visitors convert their digital assets into baht for travel and daily spending. The move, aimed at reviving one of the country’s most critical sectors, was unveiled on Monday by Finance Minister Pichai Chunhavajira.

The government announced the launch of the TouristDigipay program, an 18-month pilot that will run in a regulatory sandbox beginning in the fourth quarter. The scheme is designed to promote innovation in payments, ease travel for foreigners, and help support Thailand’s tourism-reliant economy.

“We want to take every action to facilitate foreign tourists for their stays in Thailand,” Pichai said. “This new program adds a new innovation to replace overseas visitors’ cash and credit card use here.”

How it works

Under the program, visitors can convert their digital assets into baht via licensed digital-asset business operators and e-money providers. However, direct crypto payments for goods and services remain off-limits; merchants will only receive baht.

Spending will be capped at 500,000 baht per month, with strict requirements on account openings and e-wallet activation to prevent money laundering, the ministry clarified.

The bigger picture

Tourism makes up about 12% of Thailand’s GDP, but arrivals have been under pressure. As of August 10, visitor numbers stood at 20.2 million, down 6.9% from last year. The national planning agency cut its 2025 foreign tourist forecast from 37 million to 33 million after Chinese arrivals plunged 33% in the first half of the year, following safety concerns sparked by high-profile incidents, including the kidnapping of actor Wang Xing.

To offset the decline, Thailand is actively seeking travellers from the Middle East and Southeast Asia while also embracing new technologies to attract a broader mix of international tourists.

(With Reuters inputs)