Thailand is set to launch a regulatory sandbox called TouristDigiPay in the fourth quarter of 2025, allowing foreign tourists to convert cryptocurrencies into Thai baht for spending within the country, according to the Securities and Exchange Commission (SEC).
The 18-month TouristDigiPay initiative, developed with the Ministry of Finance, the Anti-Money Laundering Office, and the Ministry of Tourism and Sports, will enable tourists to use digital assets via e-money providers.
Cryptocurrencies cannot be used directly for purchases; merchants will receive payments in baht.
Know Your Customer and Customer Due Diligence requirements will apply to digital asset operators and e-money providers, with monthly spending limits set at 50,000 baht for small merchants and up to 500,000 baht for those completing Know Your Merchant procedures.
The initiative responds to a 5% decline in Thailand’s tourism in 2025, with 16.8 million visitors in the first half, down from 17.7 million the previous year, particularly due to a 34% drop in Chinese tourists, per the World Tourism Institute.
Finance Minister Pichai Chunhavajira projects a 10% increase in tourist spending, equivalent to 175 billion baht, through the program.
The SEC emphasizes that the project integrates with existing digital asset and e-money systems, incorporating risk management measures to protect tourists and merchants.
The TouristDigiPay scheme follows a trial in Phuket allowing crypto payments and aligns with global trends, such as Bhutan’s crypto payment integration and the UAE’s agreement with Crypto.com for flight purchases.
A public consultation on financial innovation for tourism growth concluded on Aug. 13, signaling Thailand’s ongoing exploration of digital assets to enhance its tourism sector.
If successful, spending limits may be expanded, according to Pichai.