The Thai government recently announced the launch of a new program called "TouristDigiPay," which allows foreign tourists to directly convert their cryptocurrencies into Thai baht for daily electronic payments. This initiative is seen as an important attempt by Thailand to promote the digital transformation of the tourism industry, making "traveling with Bitcoin" increasingly a reality.
Under the plan, tourists only need to open an account with a locally regulated digital asset and electronic payment service provider, and complete identity verification (KYC) and anti-money laundering checks, to exchange their digital assets for Thai baht. The exchanged funds will be deposited into an electronic wallet, allowing tourists to pay via QR code scanning at restaurants, shops, or attractions just like local residents.
To ensure security and compliance, the government has included this project in a "regulatory sandbox" test, set a monthly payment limit, and prohibited direct cash withdrawals to prevent money laundering and other financial crimes.
Industry insiders point out that this move will effectively alleviate the inconvenience and high fees associated with currency exchange for tourists. The convenience of cryptocurrency payments is expected to significantly enhance the tourist experience, especially attracting young and tech-savvy travel groups.
Analysts believe that if the "TouristDigiPay" pilot is successful, it may be promoted in more tourist spots and business districts in the future, and Thailand could potentially become the world's first major tourist destination to implement cryptocurrency payments on a large scale.
