Thailand is forced to pay tourists using crypto

The Thai government reportedly runs Tourist Digipay on August 18th. This scheme allows foreign visitors to convert crypto into tybert for daily electronic payments. The launch comes as Thailand’s tourism industry recorded a decline this year.

Tourists who want to use crypto in Thailand must first open an account with both a regulated digital asset provider and an e-money service provider. It comes directly under the supervision of the SEC and the Bank of Thailand (BOT).

Thailand launches Tourist Digipay

According to the official release, participants will need to undergo strict KYC and money laundering checks before being allowed to convert the code to BAHT. Once approved, tourists can spend via electronic payments, including QR codes. On the other hand, they are unable to withdraw cash to limit financial crimes.

This scheme is introduced under the regulatory sandbox. This provides the regulator with the flexibility to test and monitor the system in real-world conditions. However, spending restrictions will be imposed to ensure financial stability and monitoring. The service is limited only to foreign tourists temporarily staying in Thailand.

Deputy Prime Minister and Finance Minister Pichai Chunhavajra will officially announce the programme. He will be accompanied by senior officials from the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports.

Sandbox Crypto Tourism

Previously, Cryptopolitan reported that after recent public consultations, the SEC in Thailand has explored how digital assets can support tourism and economic growth. The feedback window ended on August 13th. Data shows ownership of digital assets skyrocketed 6.38% last year. It has reached 617 million holders worldwide.

The global digital asset market recently surpassed its $4 trillion market capitalization as Bitcoin prices reached a new high (ATH) of over $124,000. BTC prices have increased 28% since the start of the year. The biggest Altcoin, Ethereum, is approaching demolishing the $4,890 ATH. However, it outperforms Bitcoin with 35% surge.

The Stablecoin market has seen a massive surge in 2025, but US President Donald Trump has signed the law to create a regulatory structure for coins awarded by the dollar. The bill, known as the Genius Act, won 308 votes in the House of Representatives against 122 votes. Cumulative Stubcoin’s market capitalization exceeded $286 billion on Sunday morning, with a trading volume of $115 million. Tether’s USDT leads the race with 1666.5 billion distribution supplies.