Thailand to Launch Crypto-to-Baht Sandbox to Boost Tourist Spending
"TouristDigiPay" project aims to inject over THB175 billion into the economy by allowing foreign visitors to convert digital assets for use across the country
- Thailand is launching a "TouristDigiPay" sandbox project to allow foreign tourists to convert cryptocurrency into Thai baht to boost tourist spending by an estimated 10%.
- The system is an exchange facility, not a direct crypto payment method; tourists will convert their digital assets into baht via regulated operators, which is then loaded into an e-wallet for QR code payments.
- The 18-month trial is scheduled to begin in the fourth quarter of 2025 and will operate with spending limits for merchants and strict anti-money laundering (AMLO) and Know Your Customer (KYC) measures.
Thailand's Ministry of Finance has announced the launch of a groundbreaking "TouristDigiPay" sandbox project, designed to allow foreign tourists to conveniently convert cryptocurrencies into Thai baht for spending.
The initiative, a collaboration with key government agencies, aims to boost tourist expenditure by 10 per cent, potentially adding more than 175 billion baht to the national economy.
Officially unveiled by Deputy Prime Minister and Minister of Finance Pichai Chunhavajira, the scheme seeks to create a new dimension in tourism by enabling visitors to easily convert their digital assets into local currency.
The project is set to run as a trial for 18 months, with spending limits in place to manage risk. Merchants who have completed a "Know Your Merchant" (KYM) process can accept up to 500,000 baht per month, while smaller vendors are limited to 50,000 baht.
Meanwhile, Pichai clarified that the scheme is not a direct payment system using digital assets.
"We are not accepting crypto as currency; we are simply facilitating the exchange for baht," he stated. "This makes our project unique and likely the first of its kind in the world."
Under the new system, tourists will convert their cryptocurrencies into baht through digital asset operators regulated by Thailand's Securities and Exchange Commission (SEC).
The funds will then be transferred to an electronic wallet, overseen by the Bank of Thailand, for use at shops and restaurants across the country, typically via QR code payment. Merchants will receive the payment in baht as normal.
The ministry projects a significant economic boost if the scheme is successful. With an estimated 35 million tourists visiting annually, a 10 percent increase in spending per person—around 5,000 baht—could generate a total economic circulation of 175 billion baht.
To ensure security and prevent illicit activity, the project has implemented strict anti-money laundering measures in line with the Anti-Money Laundering Office (AMLO) standards.
Participating businesses must conduct "Know Your Customer" (KYC) and "Customer Due Diligence" (CDD) on visitors, and all digital asset wallets must be screened against a blacklist.
The TouristDigiPay sandbox is scheduled to begin in the fourth quarter of 2025.
The Ministry of Finance's Permanent Secretary Lavaron Sangsnit said the scheme evolved from the "Phuket Sandbox" and could be expanded beyond its trial period if it proves safe and successful.
Future plans could include increasing transaction limits or even allowing digital assets to be used for high-value purchases such as property or yachts.
