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. 

Magazine: Coinbase calls for ‘full-scale’ alt season, Ether eyes $6K: Hodler’s Digest, Aug. 10 – 16

]]> https://earlybirdsinvest.com/thailand-plans-launch-of-a-crypto-payment-sandbox-for-tourists/feed/ 0 53761 https://earlybirdsinvest.com/the-sandbox-adds-trivia-game-template-in-latest-update/ https://earlybirdsinvest.com/the-sandbox-adds-trivia-game-template-in-latest-update/#respond Tue, 17 Jun 2025 13:27:12 +0000 https://earlybirdsinvest.com/the-sandbox-adds-trivia-game-template-in-latest-update/

Metaverse platform The Sandbox has rolled out a new trivia game template as part of its Game Maker 0.11 update, enabling creators to design interactive quiz-style games within the platform’s virtual environment.

Rather than using traditional menu-based interfaces, the template relies on player movement and timed responses inside a 3D space. Players must physically move their in-game avatars to stand on tiles representing their chosen answers. Incorrect answers result in elimination, turning the quiz into a survival-based challenge.

The template is fully editable, allowing users to input their own questions and adjust the format to suit different types of gameplay.

What’s new in The Sandbox?

The Trivia Game Template is the main addition in the Game Maker 0.11 release that allows users to create games where players answer multiple-choice questions by moving to in-world tiles. Once the timer runs out, tiles with incorrect answers collapse, and players standing on them are removed from the game.

Creators can customise the questions, the layout of the tiles, and the number of rounds. The system uses The Sandbox’s existing logic and interaction tools and does not require external programming. A full guide is available on the platform’s Gitbook, and additional tutorials have been shared via live-streamed sessions.

The template is available for free through the Game Maker software.

Why is this significant?

The introduction of the trivia format broadens the types of games that can be built within The Sandbox, which has so far focused largely on exploration, platforming, and combat-based gameplay. The new template introduces knowledge-based challenges with time pressure and physical positioning, offering a different type of player engagement.

This move may appeal to a wider range of creators, including educators, event organisers, and those looking to create social or competitive experiences based on quizzes. Whilst The Sandbox has not announced any official trivia competitions, the template enables users to build such formats independently.

This latest update reflects The Sandbox’s continued investment in expanding creative tools for its user base and encouraging a variety of game types within its platform.

The Sandbox has launched the Quick Loop Game Jam, inviting creators to build short-form games focused on replayable loops and offers a total prize pool of 50,000 $SAND tokens, alongside virtual land plots and asset packs.

Participants are required to use the platform’s Game Maker software, a no-code development tool, to create projects based on simple, repeatable gameplay mechanics.

Registration is open until June 11, with final submissions due by June 17 at 16:00 UTC and is open to anyone with a Sandbox account, regardless of prior experience in game development.

What is the Quick Loop Game Jam?

The Quick Loop Game Jam is a timed competition organised by The Sandbox, a metaverse platform that allows users to create and share interactive experiences. This particular event focuses on looping mechanics, meaning gameplay systems that repeat in short intervals—for example, reaction-based challenges, timing tasks, or skill-based mini-games.

All entries must be developed using The Sandbox Game Maker, which is available for free and does not require coding knowledge. Entrants are allowed to use both original and pre-built assets, including options from the platform’s asset library.

A total of 50,000 $SAND tokens will be distributed across the top entries. In addition, 10 LAND plots (virtual parcels within The Sandbox) and CATALYST Packs (which enhance in-game items) will be awarded. The breakdown of rewards is as follows:

• 1st Place: 10,000 $SAND, 1×1 LAND, Gold CATALYST Pack
• 2nd Place: 8,000 $SAND, 1×1 LAND, Silver CATALYST Pack
• 3rd Place: 5,000 $SAND, 1×1 LAND, Silver CATALYST Pack
• 4th Place: 4,000 $SAND, 1×1 LAND, Silver CATALYST Pack
• 5th Place: 3,000 $SAND, 1×1 LAND, Silver CATALYST Pack
• 6th to 10th Place: 2,000 $SAND each, 1×1 LAND, Bronze CATALYST Pack
• Honourable Mentions (up to 10): 1,000 $SAND each

A participation prize of 100 $SAND will also be provided for the first 100 valid submissions (not including those receiving other prizes). All rewards are subject to KYC (Know Your Customer) verification before distribution.

How to participate in the competition?

To enter, participants must first create an account on The Sandbox’s official platform and download the Game Maker tool. Registration is open until June 11 at 23:59 UTC. Once registered, users will receive an email with submission instructions. Completed games must be submitted by June 17 at 16:00 UTC.

The official judging criteria have not been published in detail, but entries are expected to focus on core loop mechanics, user engagement, and functionality within the Game Maker framework. Winners will be announced during a Twitch livestream on July 5 at 18:00 UTC, with results also posted on the project’s official X account.

The Sandbox has provided video tutorials and documentation for those unfamiliar with its development tools. Asset creation can also be enhanced using VoxEdit, an optional tool for designing voxel-based elements.

The Dubai Financial Services Authority (DFSA) has invited firms to express interest in joining its Tokenization Regulatory Sandbox before April 24, 2025.

In a March 17 announcement, the DFSA—an independent regulator overseeing the Dubai International Financial Centre (DIFC)—stated that the initiative targets firms looking to offer tokenized investment products and services.

The sandbox provides a controlled environment for testing tokenized financial solutions under regulatory supervision.

This initiative comes as tokenization gains traction worldwide. Data from Rwa.xyz shows that the real-world asset (RWA) tokenization market is valued at approximately $18.86 billion. The sector has seen over a 5% increase in users in the past month alone.

Who can participate?

The DFSA outlined that eligible services include tokenized equities, bonds, sukuk, and collective investment fund units.

Both existing DFSA-authorized firms looking to expand into tokenization and new applicants that meet the necessary requirements can apply.

Applications will be accepted from March 17 until April. Once submitted, firms will undergo an assessment process. Successful applicants will gain access to structured testing opportunities and tailored regulatory guidance within the sandbox.

According to the DFSA, only firms with strong business models and a solid grasp of regulatory compliance will be selected.

The initiative falls under the regulator’s broader Innovation Testing License program, designed to help companies refine financial products before full authorization.

UAE’s pro-crypto approach

The tokenization sandbox aligns with the UAE’s broader push to strengthen its position as a global leader in digital finance.

This month, the authorities approved a cross-border payment license for Ripple, a crypto payment firm. The license makes Ripple the first blockchain-based payment provider to receive regulatory clearance in Dubai’s financial ecosystem.

Outside of Dubai, Abu Dhabi has also taken steps to integrate stablecoins into its financial system, incorporating Tether’s USDT for broader institutional use.

Moreover, Coinbase and Chainlink have launched a joint initiative aimed at expanding institutional crypto adoption in the region.

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