Thailand Launches Crypto Payment Sandbox to Revitalize Tourism Industry

Thailand has officially launched TouristDigiPay, a nationwide regulatory sandbox program that enables foreign tourists to convert cryptocurrencies into Thai baht for electronic payments. The initiative, which went live on Monday, represents a strategic effort to reinvigorate the country's struggling tourism sector through financial innovation and digital asset integration.

The program allows eligible tourists to exchange various cryptocurrencies for local currency through regulated e-money service providers after completing mandatory Know Your Customer verification processes. Participants must establish accounts with both digital asset businesses and e-money providers that operate under the oversight of the Bank of Thailand and the country's Securities and Exchange Commission, ensuring comprehensive regulatory compliance throughout the transaction process.

Thailand's tourism industry has faced significant challenges in recent months, with visitor numbers declining substantially compared to previous years. The country welcomed approximately 16.8 million tourists in the first half of 2025, representing a decrease from 17.7 million during the same period last year. The most concerning trends include a 24% drop in East Asian visitors and a particularly steep 34% decline in Chinese tourists, who have historically formed a crucial segment of Thailand's tourism market.

The TouristDigiPay initiative includes built-in consumer protections such as monthly spending limits and restrictions on direct cash withdrawals to prevent potential misuse. Deputy Prime Minister and Finance Minister Pichai Chunhavajira is expected to provide comprehensive details about the program's implementation and operational framework. This launch follows Thailand's broader experimentation with cryptocurrency integration in tourism, including previous pilot programs in popular destinations like Phuket and broader regulatory reforms for crypto credit cards, reflecting a growing global trend of countries leveraging digital assets to attract international visitors.