Thailand is moving forward with a new initiative aimed at blending digital assets with its tourism industry. The country’s Securities and Exchange Commission (SEC) has unveiled the “TouristDigiPay” project, an 18-month regulatory sandbox that will allow foreign visitors to convert cryptocurrencies into Thai baht for local spending. The program is set to begin in the fourth quarter of 2025. According to the SEC’s August 18 announcement, the project is being developed in partnership with the Ministry of Finance, the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports. A Controlled Framework for Crypto Payments Importantly, the SEC clarified that cryptocurrencies will not be used directly for transactions. Instead, merchants will continue to receive payments in baht, while digital asset operators and e-money providers must comply with strict Know Your Customer (KYC) and Customer Due Diligence (CDD) standards outlined by AMLO. Pornanong Budsaratragoon, the SEC’s Secretary-General, said the sandbox expands upon the country’s existing financial ecosystem by integrating regulated digital asset platforms with Thailand’s e-money system, overseen by the Bank of Thailand. She emphasized that risk management measures, monthly spending limits, and a ban on direct cash withdrawals will be included to safeguard both consumers and businesses. Thailand Tourism Industry in Need of Support The TouristDigiPay initiative comes at a time when Thailand’s tourism sector is under pressure. Data from the World Tourism Institute shows the country attracted 16.8 million visitors in the first half of 2025, a drop from 17.7 million during the same period in 2024. The decline was sharpest among travelers from East Asia, down 24%, with Chinese tourists falling by 34%. Analysts note that competing destinations such as Japan and Vietnam are attracting travelers with more affordable options, thanks in part to favorable exchange rates. A recent report concluded that Thailand’s 5% tourism decline in 2025 underscores the urgent need for diversification and innovative approaches to draw international visitors. The TouristDigiPay project builds on earlier government efforts to experiment with crypto adoption in tourism. In January, a pilot program was announced to test crypto payments in Phuket, though it remains in progress. The post Thailand to Launch Crypto-to-Baht Sandbox for Tourists appeared first on TheCoinrise.com .
