Thailand is experimenting with a new way to merge its $60 billion tourism sector with digital assets, launching TouristDigiPay, a controlled program that allows foreign visitors to spend crypto in everyday transactions.
Thailand links tourism with crypto payments
Unveiled on August 18, 2025, under the supervision of the Bank of Thailand and the Securities and Exchange Commission, TouristDigiPay enables travelers to convert cryptocurrencies into baht and pay via the country’s widely used QR PromptPay system.
The idea is simple: tourists register with licensed providers, complete identity verification, and then use a Tourist Wallet that automatically converts digital assets into baht. From luxury hotels to small street vendors, payments flow into merchant accounts instantly—without exposing sellers to crypto’s volatility.
For travelers, the system avoids foreign exchange fees, high card charges, and cash withdrawals. For businesses, it means faster settlements and lower costs compared to traditional card networks.
Reviving tourism through digital finance
Tourism has long been central to Thailand’s economy, contributing nearly 20% of GDP before the pandemic. Although arrivals have recovered—28 million in 2023 compared to 40 million in 2019—spending from Chinese tourists remains well below pre-pandemic levels.
Officials see crypto adoption as a way to attract digital nomads, remote workers, and crypto users—traveler segments that spend more and prefer cashless transactions. Surveys show that about 15% of adults globally own digital assets, with adoption higher in Asia.
By integrating crypto into its existing QR ecosystem, Thailand positions itself as one of the first major tourism economies to directly connect digital assets with visitor spending.
How TouristDigiPay works
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Tourist Wallet: Visitors sign up with a licensed provider, undergo KYC checks, and link to an approved e-money operator.
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Automatic conversion: Crypto deposits convert instantly into baht. Merchants never handle crypto directly.
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Spending limits: Hotels and large outlets can accept up to 500,000 baht per tourist each month, while small vendors are capped at 50,000 baht.
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Restrictions: No cash withdrawals allowed, and certain high-risk businesses are excluded.
Authorities describe the system as a regulatory sandbox, monitored by the Bank of Thailand, SEC, Anti-Money Laundering Office, and the Ministry of Tourism.
Reducing costs, boosting efficiency
One of the biggest benefits is cutting fees. Credit card networks typically charge merchants 2–3% and delay settlement by days. With TouristDigiPay, payments settle instantly via Thailand’s domestic QR system.
Analysts estimate that if just 5% of projected 2025 tourism revenue ($60 billion) flows through TouristDigiPay. Transaction volumes could exceed $3 billion—outpacing the annual trading activity of some regional crypto exchanges.
Thailand’s broader digital asset strategy
TouristDigiPay fits into Thailand’s careful but progressive approach to crypto:
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Payments in crypto remain restricted for locals, but licensed trading platforms like Bitkub and Binance TH operate under regulatory oversight.
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Tax incentives: VAT on crypto transfers was removed in 2024, and income tax exemptions for crypto gains run through 2029.
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High adoption: Around 20% of adults in Thailand hold digital assets, placing it among the top global adopters.
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Public-sector pilots: The central bank has tested a retail CBDC and participates in cross-border projects like Project Nexus, set for 2026.
A test with regional implications
If TouristDigiPay succeeds, Thailand could showcase a model where crypto enhances tourism without destabilizing financial systems. Neighboring countries with tourism-heavy economies—like Vietnam and Cambodia—are watching closely.
For now, the program is limited, controll, and experimental. But if smooth execution combines with tourist demand. Thailand may well prove that crypto can evolve beyond speculation and become part of real-world spending.
