TouristDigiPay explained
Under the scheme, tourists will be able to convert cryptocurrencies into Thai baht and make electronic payments via e-money service providers. To participate, foreign visitors must complete Know Your Customer checks and open accounts with both a licensed digital asset business and an e-money provider regulated by the Bank of Thailand and the Securities and Exchange Commission.
The system will include safeguards such as monthly spending limits and a ban on direct cash withdrawals. Full details of the initiative are expected to be announced on Monday by Deputy Prime Minister and Finance Minister Pichai Chunhavajira.
Thailand’s tourism challenge
TouristDigiPay comes at a time when Thailand is experiencing a tourism slowdown. According to a July 10 report by the World Tourism Institute, the country welcomed 16.8 million tourists in the first half of 2025, down from 17.7 million in the same period last year. Visitor numbers from East Asia fell 24 percent, while arrivals from China dropped 34 percent, signaling a major decline from one of Thailand’s most important tourist markets.
The report highlighted growing competition from other destinations in the region such as Japan, which has benefited from a weaker yen, and Vietnam, which has become increasingly attractive due to lower costs.
“Thailand’s 5 percent tourism decline in 2025 underlines the urgent need for diversification, market repositioning, and enhanced visitor experiences to compete in a changing regional landscape,” the think tank noted.
Crypto as a tourism booster
The Thai government has been actively exploring ways to integrate crypto into its economy. On August 13, the SEC concluded a public consultation on the role of digital assets in supporting tourism and broader economic growth.
Finance Minister Chunhavajira initially unveiled the TouristDigiPay idea during an investment seminar in Bangkok on May 26. Earlier this year, in January, officials also announced a trial program enabling tourists to pay with crypto in Phuket, one of Thailand’s most popular holiday destinations. The trial remains ongoing.
Global trend of crypto tourism
Thailand is not alone in adopting digital assets to attract travelers.
- Bhutan recently partnered with Binance Pay and DK Bank to integrate crypto payments into its tourism infrastructure.
- On August 11, Jeff Bezos’s Blue Origin announced a deal with Shift4 Payments, offering customers the ability to pay for space travel using Bitcoin, Ethereum, Solana, and stablecoins like USDT and USDC.
- In July, the United Arab Emirates signed an agreement with Crypto.com to let passengers use crypto for flights and in-flight purchases.
Conclusion
With TouristDigiPay, Thailand is making a significant bet that crypto adoption can revitalize its tourism sector, especially at a time when competition across Asia is intensifying. If successful, the sandbox could serve as a model for other nations seeking to merge digital asset innovation with tourism growth.
