Thailand launches the TouristDigiPay scheme, enabling tourists to convert cryptocurrency into baht for local spending. A move to revive tourism and attract digital nomads.
Bangkok, August 18, 2025 – Thailand has officially launched the TouristDigiPay scheme, a first-of-its-kind national initiative that allows foreign tourists to convert cryptocurrency into Thai baht for local spending. The rollout, which began on Monday, marks the start of an 18-month regulatory sandbox program designed to rejuvenate the country’s struggling tourism sector.
The program is being closely watched as a potential model for other global tourist hubs looking to blend digital asset innovation with traditional tourism economies.
TouristDigiPay: Key Facts at a Glance
Aspect Details Launch Date August 18, 2025 Duration 18 months (sandbox pilot) Regulators SEC, Bank of Thailand, AMLO Total Spending Cap (per tourist) 550,000 baht (~$16,950) Monthly Limits 500,000 baht (large merchants); 50,000 baht (small merchants) Crypto-to-Baht Conversion Allowed Direct Crypto Payments Not permitted Cash Withdrawals Prohibited until account closure Tourism Sector Context 16.8M arrivals H1 2025 (down 5%) Strategic Goal Boost tourism, attract digital asset holders, modernize economy
How TouristDigiPay Works
- Tourists must first open accounts with Bank of Thailand- and SEC-regulated digital asset operators and e-money providers.
- After undergoing strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, they can convert approved cryptocurrencies (including Bitcoin and selected tokens) into Thai baht.
- The funds are stored in digital wallets and can be spent electronically—primarily through Thailand’s widely adopted QR code payment system.
- Importantly, merchants receive baht only; direct crypto payments are not permitted.
This ensures that while tourists enjoy seamless digital transactions, the Thai financial system remains shielded from volatility and illicit activity associated with cryptocurrencies.
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TouristDigiPay: Spending Limits and Safeguards
To balance innovation with security, the scheme introduces strict controls:
- Conversion Cap: 550,000 baht (~$16,950) per visitor for the pilot period.
- Monthly Limits: Up to 500,000 baht at large merchants with card terminals; 50,000 baht at small vendors.
- Cash Withdrawals: Not allowed until account closure.
- High-Risk Businesses: Excluded from participation.
- Monitoring: Comprehensive transaction tracking by both e-money providers and digital asset firms.
These measures aim to curb money laundering, prevent illicit flows, and promote responsible usage.
Thailand’s Tourism Sector at a Crossroads
Tourism was once Thailand’s golden engine—valued at $62 billion annually and nearly 20% of GDP before the pandemic. But recovery has been slower than expected.
- Visitor Arrivals H1 2025: 16.8 million, down 5% year-on-year.
- Sharp Declines: Chinese visitors (-34%) and East Asians (-24%).
- Forecast: Revised to 33 million arrivals for 2025, far below the pre-pandemic peak of 39.9 million in 2019.
Against this backdrop, the government hopes crypto-friendly tourists, digital nomads, and high-spending asset holders will help plug the gap and diversify revenue sources.
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Government’s Strategic Vision
Finance Minister Pichai Chunhavajira described TouristDigiPay as a “landmark step in modernizing both tourism and financial services”, aligning with Thailand’s ambition to position itself as a regional hub for digital finance and innovation.
The initiative complements broader reforms, including:
- Capital gains tax exemptions on digital assets until 2029.
- Pilot projects on Central Bank Digital Currency (CBDC).
- Cross-border digital payment experiments with regional partners.
Together, these policies reflect Thailand’s effort to balance regulatory oversight with innovation, sending a message that the kingdom is open to next-generation travelers and investors.
Outlook
Thailand’s TouristDigiPay program is more than just a payments innovation—it is a strategic lifeline for a sector under pressure. If successful, it could redefine how countries integrate cryptocurrency into mainstream tourism, setting a precedent for Asia and beyond.
By merging its tourism brand with fintech leadership, Thailand is betting on digital assets to drive both economic revival and global attention.