Thailand’s Securities and Exchange Commission (SEC) announced Monday that it will launch a regulatory sandbox in the fourth quarter of 2025 to allow foreign tourists to convert cryptocurrency into Thai baht for spending—part of a broader strategy to revive tourism through digital innovation.
The pilot, dubbed TouristDigiPay, will run for 18 months and is being developed in collaboration with the Ministry of Finance, Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports. While tourists will be able to spend converted crypto, direct payments in digital assets will not be allowed. Merchants will receive payments exclusively in baht.
The SEC emphasized that strict Know Your Customer (KYC) and Customer Due Diligence (CDD) standards, in line with AMLO guidelines, will apply to both crypto operators and e-money providers. Spending caps and restrictions on direct cash withdrawals will be enforced to manage risks.
“The TouristDigiPay project builds on Thailand’s existing digital asset ecosystem and will include robust risk management protocols to protect tourists and merchants alike,” said SEC Secretary-General Pornanong Budsaratragoon.
The sandbox is a response to the sharp decline in Chinese and East Asian tourist arrivals, a key segment of Thailand’s tourism industry. According to the World Tourism Institute, Thailand received 16.8 million tourists in H1 2025—a 5% year-over-year drop. Chinese visitors fell by 34%, driven in part by rising interest in competing destinations like Japan and Vietnam.
The crypto-for-tourism initiative has been in discussion since early 2024, when the government launched trials in Phuket to explore crypto payments. The TouristDigiPay program builds on those efforts, aiming to make Thailand more attractive to tech-savvy travelers.
Thailand joins a growing list of countries embracing crypto to attract tourism. Bhutan partnered with Binance Pay earlier this year, and the UAE has integrated crypto payments for flights through Crypto.com.
With TouristDigiPay, Thailand hopes to position itself as a forward-thinking, crypto-friendly destination in an increasingly competitive regional tourism landscape.
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