CoinVoice has learned that, according to CoinDesk, Thailand has launched a Tourist Wallet for foreign tourists, which uses QR codes for exchanging foreign currency to Thai Baht. However, the cryptocurrency exchange function has been suspended due to regulatory review and is expected to be unavailable until mid-August.
The Bank of Thailand stated that the purpose of launching the Tourist Wallet is to address a practical issue: cross-border QR code payments are currently only available in countries including Singapore, Malaysia, and upcoming partner countries. Tourists from other countries still face inconveniences when making payments in Thailand, and the new wallet aims to resolve this pain point.
Tourists can recharge their wallets in the following ways: using cash at the service provider's counter, linking an overseas debit or credit card, or through overseas bank transfers. The spending limits are as follows: merchants using card terminals can spend up to 500,000 Thai Baht (approximately 13,800 USD) per month, while small merchants can spend up to 50,000 Thai Baht per month. Cash withdrawals are prohibited, and accounts can only be closed through redemption. [Original link]
