Thailand is moving ahead with a new push to attract visitors by enabling foreign tourists to convert cryptocurrency into Baht for payments.
Thailand Launches Crypto-to-Baht Exchange Service to Enhance Tourism
18 August 2025 - 13:47 CEST
According to a news release issued by the Thai Securities and Exchange Commission on Monday 18 2025, the TouristDigiPay programme comes as the country seeks to counter a sharp drop in tourism this year, particularly from China.
While crypto exchanges and investment in crypto ETFs are both currently banned in mainland China, it is still legal for Chinese citizens to own cryptocurrencies directly using over-the-counter services.
The initiative was introduced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira alongside officials from the Finance Ministry, the Thai Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports.
How it works
Thai officials have worked to offer the crypto to Bhat conversion scheme by taking advantage of strides the government has made in their own domestic digital asset infrastructure.
“The TouristDigiPay project builds upon the existing ecosystem that integrates the (digital assets) DA trading system regulated by the SEC with the e-money system regulated by the Bank of Thailand (BOT),” said Pornanong Budsaratragoon, Secretary-General of the Thai SEC.
Under the plan, tourists will be able to exchange their crypto into Thai Baht through accounts with licensed e-money providers regulated by the Bank of Thailand. Transactions will be carried out electronically.
Crypto holidays
The system will run with strict Know Your Customer (KYC) and due diligence checks in place to limit risks and fraud. Spending caps will also apply up to 500,000 Baht (USD 15,405) monthly for merchants with card terminals, and 50,000 Baht for small merchants. Withdrawals won’t be permitted: tourists can only cash out when closing their accounts.
According to the central bank, a new “Tourist Wallet” will underpin the service, designed to support visitors from countries without cross-border QR payment links.
In the long term, Thailand aims to expand this into a broader tourist payment network tied to foreign debit and credit cards as cryptocurrencies gain popularity in the region, in major hubs like Japan and South Korea, but also across Southeast Asia.
According to World Tourism Institute numbers from July, tourist numbers in the first half of 2025 were down to 16.8 million tourists from 17.7 in H1 2024, with a 24% drop in tourists from East Asia and a 34% fall in visitor numbers from China.
