Thailand turns to crypto to increase tourism, but its regulations may stand in the way of success.Â
Thailand has announced TouristDigiPay, an 18-month pilot that lets foreign visitors convert digital assets into Thai baht.
Scheduled to begin in Q4 2025, the programme is a collaboration between Thailand’s Securities and Exchange Commission (SEC), the Ministry of Finance, the Anti-Money Laundering Office (AMLO) and the Ministry of Tourism and Sports.
Tourists will be able to scan QR codes at participating merchants to turn their crypto holdings into baht for everyday purchases. SEC-licensed digital-asset operators will partner with e-money providers overseen by the Bank of Thailand (BOT), aiming to create a bridge from crypto to electronic payments.
“The TouristDigiPay project builds upon the existing ecosystem that integrates the DA trading system regulated by the SEC with the e-money system regulated by the BOT,” said Pornanong Budsaratragoon, SEC Secretary-General.
“The project includes appropriate risk management measures and follows KYC and Customer Due Diligence (CDD) procedures in accordance with the standards set by the AMLO and other relevant authorities. These procedures apply to both digital asset business operators and e-money service providers.”
Not so seamless
Although the initiative aims to boost tourism by simplifying spending, direct crypto payments remain prohibited in Thailand as crypto is not legal tender. Both residents and visitors must convert assets into baht before making purchases.
Residents can still trade and invest via licensed exchanges, and stablecoins are approved and tax-exempt, but retail payments in crypto are banned.
Tourists must complete KYC checks and use QR-code wallets in order to partake in the initiative. There are also monthly transaction caps, ranging from $1,538-15,389 (50,000 to 500,000 baht) depending on merchant size and a requirement to close the account before withdrawing cash, which all add extra friction.
A global comparison
Crypto-friendly tourism projects are popping up across the Asia region. In May 2025, Binance Pay teamed up with Bhutan’s DK Bank for the first national-level crypto payment scheme.
Richard Teng, CEO of Binance, said the project set a “precedent for how technology can bridge cultures and economies.”
In Bhutan, visitors can pay with over 100 cryptocurrencies, including BNB, BTC and USDC, using QR codes at local merchants. Between January and June 2025, Bhutan saw a 31.66% rise in tourist arrivals versus the same period in 2024, according to Daily Bhutan.
Looking ahead, Thailand will evaluate TouristDigiPay’s performance at the end of its 18-month run. If it succeeds, regulators may consider expanding limits, enabling larger purchases and even loosening rules on direct crypto payments, though for now, the country is taking a cautious path.
