🇹🇭 Thailand launches nationwide crypto payment sandbox
The Thai government has just launched the "Tourist Digi Pay" program starting today, allowing foreign tourists to convert crypto to baht for payments nationwide.
International tourists wishing to use this service must open accounts with crypto businesses licensed by the Central Bank and SEC 🇹🇭. The system also implements measures such as monthly spending limits and prohibits direct cash withdrawals to minimize financial risks.
The idea of using crypto to stimulate demand is not new; the Land of Smiles has piloted crypto payments in major tourist cities like Phuket. At the same time, it recognizes two stablecoins, USDT and USDC, as legal crypto.
This is seen as the latest effort to revive the tourism industry, which is struggling due to political instability at home that has led to a wave of tourists shifting to countries like Japan and Vietnam.
