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In-depth Analysis of the TouristDigiPay Project and the Role of Digital Asset Payments

2025/11/14 09:45:02

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In recent months, many of you may have heard news about the launch of the “TouristDigiPay” project, which refers to converting digital assets into Thai Baht for payment of goods and services for foreign tourists. This is a pilot project for a new payment service under the Innovation Testing Framework (Sandbox). It is a collaboration between the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports to facilitate foreign tourists in converting digital assets (such as Bitcoin or Ethereum) into Thai Baht and spending through an electronic payment system (e-money settlement) with participating merchants in Thailand immediately. This project serves as a case study for using digital assets to pay for goods and services in the Thai economy for the first time. This article will take you deep into the legal feasibility, opportunities, and challenges of implementing such a project to attract tourists and sustainably revitalize the Thai economy.

Using the TouristDigiPay service begins with tourists opening an account with an authorized digital asset service provider and completing identity verification (KYC), including presenting personal documents and proof of entry into Thailand. Next, they must open an e-money account with a licensed provider regulated by the Bank of Thailand. Once both accounts are set up, tourists can transfer digital assets from overseas wallets to their local account, exchange them for Thai Baht, and then move the funds into their e-money account for spending via app or QR code, just like local users. During the Sandbox period, spending limits apply: 50,000 THB per month for merchants without KYM verification and 500,000 THB per month for merchants that have completed KYM. When leaving Thailand, tourists can convert any remaining Baht back into digital assets and transfer them to their overseas account, subject to service fees as determined by providers.

The TouristDigiPay project can help promote the growth of Thailand’s tourism industry in several ways. These include increasing convenience for foreign tourists when making payments, reducing the hassle of currency exchange, and minimizing the risks associated with carrying cash—making the travel experience smoother.

In addition, it plays a role in attracting digital-era travelers and Digital Nomads. Currently, there are more than 560 million digital asset holders worldwide, which includes high-spending travelers who enjoy working while traveling globally. Furthermore, supporting payments with digital assets helps create an image of Thailand as a Smart Tourism Destination—modern and aligned with global trends.

The TouristDigiPay project is an important step for Thailand in enhancing and expanding use cases of digital assets to sustainably support the country’s economic growth.

 ⚠️ Disclaimer: Cryptocurrency and digital token involve high risks; investors may lose all investment money and should study information carefully and make investments according to their own risk profile.

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