Thailand targets tourists with crypto-to-baht scheme

The TouristDigipay pilot will run for 18 months from later this year through a regulatory sandbox as Thailand bids to stimulate its tourist industry.

Visitors will not be able to use crypto directly to make payments in the country but can convert it into baht. Spending through the programme is limited to 500,000 baht per month.

Thailand has seen a 33% drop in tourism from China in the first half of the year amid safety fears after Chinese actor Wang Xing was kidnapped near the border with Myanmar, according to Bloomberg.

Finance Minister Pichai Chunhavajira says: “We want to take every action to facilitate foreign tourists for their stays in Thailand. This new programme adds a new innovation to replace overseas visitors’ cash and credit card use here.”