Thailand is reportedly planning a nationwide regulatory sandbox allowing foreign visitors to convert crypto into local currency for electronic payments in a bid to boost tourism.
Known as TouristDigiPay, the scheme is expected to go live on Monday and allow users to exchange cryptocurrencies for Thai baht and make electronic payments through e-money service providers, according to a report on Saturday from local newspaper The Nation.
Only tourists in Thailand will be eligible to use the service after undergoing Know Your Customer due diligence checks and opening an account with a digital asset business and an e-money provider regulated by the Bank of Thailand and the country’s Securities and Exchange Commission.
There will also be safeguards such as monthly spending limits and a block on direct cash withdrawals. However, full details on the TouristDigiPay initiative will reportedly be released on Monday by Deputy Prime Minister and Finance Minister Pichai Chunhavajira.
Officials hope crypto can boost tourism
The TouristDigiPay scheme is an attempt to breathe new life into Thailand’s tourism industry, and a direct response to the slowdown in foreign visitors, especially from China, which has long been considered a cornerstone of the industry, The Nation reported.
Thailand welcomed around 16.8 million tourists in the first half of 2025, down from 17.7 million the same time last year, with a 24% drop in tourists from East Asia and a 34% fall in visitor numbers from China, think tank The World Tourism Institute said in a July 10 report.
The report said tourists are eyeing other countries in the region, such as Japan with its weaker Japanese yen making it more affordable, and the comparatively cheaper Vietnam.
“Thailand’s 5% tourism decline in 2025 underlines the urgent need for diversification, market repositioning, and enhanced visitor experiences to compete in a changing regional landscape,” the report said.
Thailand still experimenting with crypto
Using crypto to stimulate tourism has been under review by the Thai government, with the country’s SEC completing a public consultation on the use of financial innovation and digital assets to support economic and tourism growth on Aug. 13.
Chunhavajira first announced the TouristDigiPay initiative during an investment seminar in Bangkok on May 26.
Related: Thailand to block Bybit, OKX and other crypto exchanges on June 28
It followed an announcement in January about a trial to allow foreign visitors to pay for goods and services using cryptocurrencies in Phuket, one of Thailand’s most popular tourist destinations. The trial is still in the works.
Countries and businesses adopting crypto to attract tourists
The Kingdom of Bhutan in South Asia has also taken steps to integrate crypto payments into its tourism infrastructure, such as the partnership between Binance Pay and local bank DK Bank to let users pay for their expenses using crypto.
Jeff Bezos’s Blue Origin inked a deal with Shift4 Payments on Aug. 11, offering customers the option to pay for outer space trips in Bitcoin (BTC), Ether (ETH), Solana (SOL) and Stablecoins such as USDT (USDT) and USDC (USDC).
Meanwhile, in July, the United Arab Emirates signed an agreement with Crypto.com to allow passengers to pay for flights and in-flight purchases using crypto.
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