TouristDigiPay: Thailand’s plan to boost tourism with cryptocurrency payments

The Thai government is launching the "TouristDigiPay" programme on Monday, August 18, aimed at revitalising the tourism industry by allowing the conversion of cryptocurrencies into Thai baht for local payments.

The measure comes amid a significant decline in tourist numbers, especially from China. Details of the scheme will be announced at a press conference led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, joined by officials from the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports.

Under the regulations, foreign visitors wishing to use the service must open accounts with both a digital asset company and an e-money provider, entities regulated by the SEC and the Bank of Thailand. The scheme will operate within a regulatory “sandbox” to mitigate risks and prevent the direct use of cryptocurrencies as a means of payment.

Participation is limited to foreign tourists temporarily staying in Thailand. They must undergo strict KYC and CDD verification processes set by AMLO. The service will enable the conversion of cryptocurrencies into baht and allow electronic payments, including through QR code scanning.