Thailand is set to revolutionize its tourism sector by embracing cryptocurrency with its innovative initiative called TouristDigiPay. Launching on August 18, this program will enable foreign tourists to convert their digital currencies into Thai baht, facilitating seamless electronic transactions during their stay.
This development comes at a crucial time as the country grapples with declining tourism statistics, prompting officials to explore novel avenues to invigorate this vital industry.
Mechanics of the Program
To participate in the TouristDigiPay program, tourists must establish accounts with approved digital asset service providers and e-money platforms. These entities will be closely monitored by both the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT).
Moreover, participants will undergo comprehensive know-your-customer (KYC) and anti-money laundering (AML) checks before they can use the services. Once verified, tourists will enjoy the benefits of using baht for various digital payments, including popular QR code transactions at local shops and dining establishments.
BREAKING: Thailand opens its doors to cryptocurrency for tourists! Foreigners can convert crypto to local currency starting August 18!
— Crypto Updates (@CryptooNews) August 17, 2025
It’s important to note that cash withdrawals will not be authorized under this scheme, as the government aims to mitigate potential risks associated with financial crimes.
The Role of Digital Currency in Economic Growth
This initiative stems from a recent consultative process by the SEC aimed at investigating how digital assets could serve both the economy and tourism sector. The feedback phase concluded on August 13, yielding significant insights.
During this timeframe, data indicated a global increase of over 6% in digital asset ownership over the past year, now totaling nearly 620 million individuals worldwide.
The program will initially operate within a regulatory sandbox, allowing authorities to evaluate its practical viability while imposing spending limits to ensure financial stability. Importantly, only short-term foreign tourists will have access to this digital payment method.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira will announce the official launch of this program along with officials from several relevant ministries.
The Growing Landscape of Crypto Markets
Thailand’s timing aligns perfectly with the burgeoning growth of digital assets globally. The market recently surpassed $4 trillion, fueled by Bitcoin reaching new heights above $124,000—an increase of 28% in 2025 alone.
Furthermore, Ethereum has experienced a robust surge of 30%, inching closer to its previous all-time high of $4,890.
Positive Outlook for Thailand
The implementation of TouristDigiPay represents more than a mere cryptocurrency trial for Thailand. Officials are optimistic that this move will not only enhance the country’s appeal to tourists but also boost spending during a critical time when tourism—a cornerstone of the Thai economy—is struggling.
Featured image from Unsplash, chart from TradingView
