Thailand Introduces Crypto-to-Fiat Conversions for Tourists

Thailand is rolling out a new program allowing foreign visitors to convert cryptocurrency into Thai Baht for use within the country. The initiative, “TouristDigiPay,” aims to boost tourism following a slowdown caused by fewer arrivals from China and increased regional competition.

The program operates within a regulatory sandbox, requiring tourists to open local accounts with approved digital asset businesses and e-money providers. Strict KYC and due diligence checks are in place to ensure compliance and mitigate risk. A “tourist wallet” e-money service is also in development, though it will have transaction limits and work only at government-approved outlets.

While the scheme provides a path for crypto-to-fiat transactions, adoption may be limited due to regulatory requirements and user onboarding hurdles. Thailand continues its push toward a cashless economy, alongside tax incentives for local crypto traders and a growing presence of major exchanges such as Binance, KuCoin, and Upbit.