Thailand has thrown open the doors to a digital revolution in tourism, unveiling the world’s first system allowing foreign visitors to convert cryptocurrency into Thai baht for everyday purchases—from pad thai stalls to 7-Eleven counters.
The pilot project, called TouristDigiPay, launched yesterday, August 18, under the watch of Deputy Prime Minister and Finance Minister Pichai Chunhavajira. Unlike crypto-payment models abroad, which often rely on credit card integration and large retailers, Thailand’s system aims to bring street food vendors, small merchants and convenience stores into the digital age.
“This is the world’s first model that doesn’t use crypto directly as a payment medium, but converts it to Thai baht for use through e-money. It benefits small retailers because they can accept payments like normal transactions.”
The scheme, which will run for 18 months, sets spending caps at 500,000 baht (US$15,400) per month, with individual transactions limited to 100,000 baht. Officials say these limits could later be lifted to allow purchases of high-value assets such as property or yachts.
Finance Ministry Permanent Secretary Lavaron Sangsnit said the project could transform the economy. With around 35 million tourists visiting Thailand annually, if each spends an extra 5,000 baht thanks to easier payments, the system could inject 175 billion baht into the economy.
The initiative involves the Finance Ministry, SEC, AMLO and the Tourism and Sports Ministry. Under the framework, crypto will be exchanged via SEC-supervised platforms before being converted into baht and loaded onto e-money apps regulated by the Bank of Thailand.
The programme will use strict Know Your Customer (KYC) and Customer Due Diligence (CDD) measures, with smaller merchants capped at 50,000 baht per month and verified businesses permitted up to the higher limits. Conversion back into digital assets will be allowed only within the original exchange amounts, and fees will follow rates set by licenced operators, reported KhaoSod English.
SEC Secretary-General Pornanong Budsaratragoon confirmed businesses have been engaged since August, while AMLO Secretary-General Thepsu Bavornchotidara stressed robust verification to prevent money laundering.
TouristDigiPay is expected to go live in Q4 2025, with the SEC reviewing its performance after the pilot ends to determine whether Thailand’s world-first crypto-to-baht system becomes a permanent fixture of its tourism economy.
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