Thailand Prepares to Launch Cryptocurrency Payments for Tourists
Date: 2025-05-28 Author: Oliver Abernathy Categories: IN WORLD
Thai authorities are going to simplify the payment process for tourists by allowing them to use cryptocurrency when making purchases. This was reported by local media, citing Finance Minister and Deputy Prime Minister Pichai Choonhavajir. The plan envisages the use of credit cards that can be linked to cryptocurrency assets. This will allow travelers to pay for goods and services with digital assets, while sellers will receive payment in Thai baht.
According to the minister, the use of such schemes is possible with the presence of appropriate support mechanisms, and their implementation will not require significant changes from retail outlets. Moreover, sellers may not even know that the payment is based on cryptocurrency, since all funds will be automatically converted into local currency.
The pilot version of the project is expected to be launched after the completion of regulatory procedures and the creation of the necessary infrastructure. The exact start date of the program has not yet been announced, but the authorities are confident that the initiative will have a positive impact on the tourism sector.
In addition to the introduction of crypto payments, the Thai government is considering a reform of financial legislation. Pichai noted that it is necessary to combine the regulation of the traditional financial market and digital assets, since they currently fall under different legal regimes. Such a reform is designed to eliminate contradictions and make the market more transparent and convenient for both users and investors.
Particular attention is planned to be paid to changing the rules regarding institutional investors. The authorities intend to review outdated restrictions in order to give more freedom to large players in the market as part of a general update of the financial system.
Support for digital assets is already manifested in other initiatives. Thus, on May 13, the Ministry of Finance of Thailand announced plans to issue investment tokens worth $150 million. These tokens will be available to retail investors and will allow them to purchase government bonds in digital format, which is another step towards modernizing the country's financial system.
