Economy Thailand's Digital Baht Plan Targets Big-Spending Tourists

[webfact]

Picture courtesy of Business World
 

Thailand is seizing the crypto trend by letting tourists spend their digital coins directly on everything from pad Thai to plush resorts.

 

The Securities and Exchange Commission (SEC) and Bank of Thailand (BoT) are introducing a crypto sandbox programme to enhance tourism and pump fresh cash into the local economy.

 

On July 15, Anek Yuyuen, SEC's Deputy Secretary General, revealed that this initiative will enable visitors to transform their digital assets into Thai baht for smooth spending.

 

“This project will help support economic recovery and strengthen our tourism sector,” Yuyuen stated.

Tourists will create accounts with licensed digital operators under strict regulation from the SEC, transacting through e-money providers monitored by the BoT. Adherence to stringent anti-money laundering checks via Know Your Customer (KYC) protocols is mandatory for all.

 

With a monthly spending cap of 50,000 baht on the Thai QR Code system, visitors can easily pay small merchants. Merchants who undergo additional verification can accept payments up to 500,000 baht per month.

 

This sandbox initiative is a strategic move to position Thailand as a prime destination for digital asset enthusiasts. Holding the highest cryptocurrency ownership in Asia, Thailand ranks fifth globally.

 

Recent data highlights the potential benefits: In 2024, Thailand welcomed 35.54 million tourists, generating 1.67 trillion baht. Despite recovery, these numbers are shy of the 1.91 trillion baht from 2019. Officials believe streamlined crypto spending could bridge this gap, according to The Nation.

 

“This initiative is expected to enhance Thailand’s appeal for digital-savvy tourists,” Yuyuen explained, adding that public consultation will run until August 13.

 

Merkle Capital's Investment Advisor, Woramet Chanseng, praised the sandbox as a step toward establishing Thailand as a digital asset hub. “The experiment opens the door for fresh capital inflows, increasing baht demand,” he commented. “It might also pave the way for a future digital baht.”

 

Nevertheless, Woramet cautioned that hurdles such as complex verification processes for travellers and merchants persist.

 

Should the sandbox succeed, officials anticipate Thailand will emerge as a major player in the global digital economy.

 

  Adapted by ASEAN Now from The Thaiger 2025-07-17

 

 

[blaze master]

What coins will be acceptable in this fantastic idea ?

[dinsdale]

1 hour ago, webfact said:

“This project will help support economic recovery and strengthen our tourism sector,” Yuyuen stated.

 Like every other half rsed idea they come up with.

[HappyExpat57]

1 hour ago, webfact said:

introducing a crypto sandbox programme

And we all know what cat's do in a sandbox.

[DonniePeverley]

Dirty money

[StayinThailand2much]

3 hours ago, webfact said:

Thailand's Digital Baht Plan Targets Big-Spending Tourists (...)

 

With a monthly spending cap of 50,000 baht on the Thai QR Code system (...)

 

Nuff said! 😆 

[Ralf001]

3 hours ago, webfact said:

With a monthly spending cap of 50,000 baht on the Thai QR Code system, visitors can easily pay small merchants. Merchants who undergo additional verification can accept payments up to 500,000 baht per month.

 

 

50k will cover decent night out.

 

Wonder what the red tape is to bump the spending up to 500k?

[NE1]

2 hours ago, dinsdale said:

Yuyuen stated.

Should that read " Yawn "

[KhaoHom]

Another farcical idea.

 

How many tourists will avail themselves to this? Probably next to zero.

 

According to the article Thailand itself is only fifth in crypto - in the region.

 

Thailand needs to stop dreaming, challenge the existing status quo and change, innovate. Drop the convoluted ideas.

 

Tourists are simple, working and middle class people and always will be.

 

Get a grip

[Mark17AA]

Here we go again.. put it out there and flip flop away again.

[BeastOfBodmin]

9 hours ago, blaze master said:

What coins will be acceptable in this fantastic idea ?

Exactly what I was thinking. The article is short on details.

[crazykopite]

Pigs might Fly !!!!!!

[madmitch]

As most places in Thailand are not even geared up for contactless card payments I can't see this initiative being too successful.

[BeastOfBodmin]

Our "reliable media outlet" wrote:

  

9 hours ago, webfact said:

The Securities and Exchange Commission (SEC) and Bank of Thailand (BoT) are introducing a crypto sandbox programme to enhance tourism and pump fresh cash into the local economy.

 

I bit of digging turned up SEC public hearing on a digital asset regulatory sandbox to promote tourism industry (my emphasis):

 

Quote

Bangkok, 15 July 2025 – The Securities and Exchange Commission (SEC) is seeking public comments on a regulatory sandbox to allow conversion of digital assets into Thai Baht for foreign tourists’ spending purposes. The initiative aims to promote the use of innovation and digital assets to boost the economy and tourism industry in Thailand. The sandbox would provide more options and convenience for foreign tourists who hold digital assets to exchange them for Thai Baht through licensed digital asset operators and use the converted Thai Baht to buy goods and services via e-money service providers.

 

Thus, no sandbox is to be introduced. The SEC seeks public comments for such. No mention of specific "digital tokens" in the post above. The links at the bottom of the article don't work properly with my browser.

[cedel]

12 minutes ago, madmitch said:

As most places in Thailand are not even geared up for contactless card payments I can't see this initiative being too successful.

that has nothing to see, Thailand have established everywhere payments by QR code, including in street merchants to buy a phad thai, a thai roti or a kebab.. 

[ronster]

So will crypto kidnapping still be a regular sport ? Asking for some Russian and Chinese friends 👍

[PB172111]

9 hours ago, webfact said:

This sandbox initiative is a strategic move to position Thailand as a prime destination for digital asset enthusiasts. Holding the highest cryptocurrency ownership in Asia, Thailand ranks fifth globally.

While the crypto sandbox is an attention-grabbing headline, it’s a complex and risky tool for a problem that may not exist. Tourists aren’t crying out for a way to spend crypto; they want convenience, value, and security. Thailand would be wiser to improve core infrastructure, streamline visa processes, and focus on sustainability and cultural integrity—areas where every tourist, regardless of wallet type, benefits.

[chilli42]

I don’t understand how this initiative is going to produce the projected benefits/results. I must be missing something. Wouldn’t Thai merchants and vendors prefer cash? Why is it good for tourists? Is cash and credit cards for larger purchases not simpler and more straight forward? There must be something I am missing here.

[Conno]

They will keep launching clueless initiatives like this instead of just doing a full on Dubai. A move which would actually bring real crypto wealth into the Kingdom. Very few crypto people are going to jump though these hoops, it's all about control as usual, a dying and broken fractional reserve debt based fiat system trying to cling on for just that little bit longer. Not isolated to just Thailand though,  BTC from 0 to $123,000 in 16 years tells you all you need to know. Keep trying to hold the tide back Thailand, good luck with that.  

[digger70]

Thailand's Digital Baht Plan Targets Big-Spending Tourists.

 

Great what will be going wrong. Who's at the end making money out of this Scam.

[Photoguy21]

Increase in tourism will not happen like this. Always trying to get a certain demographic instead of looking at what the actual problems are that has reduced the tourists.

[Will B Good]

Do (many) people actually use crypto in this way?

 

I've held a number cryptos over the years, but view them as investments (good or bad) and would never consider buying stuff day to day with them.

[norsurin]

35 minutes ago, ronster said:

So will crypto kidnapping still be a regular sport ? Asking for some Russian and Chinese friends 👍

Same im thinking.Dangerous sport.I wonder how many trillions they will imagine this time.

[csmith]

[NoDisplayName]

6 hours ago, Ralf001 said:

 

 

50k will cover decent night out.

 

Wonder what the red tape is to bump the spending up to 500k?

 

That's not a spending cap on the tourist.

 

10 hours ago, webfact said:

With a monthly spending cap of 50,000 baht on the Thai QR Code system, visitors can easily pay small merchants. Merchants who undergo additional verification can accept payments up to 500,000 baht per month.

 

Tourists can spend max 50K total per month.  Wowza!  That's just over 1,600 baht per day.  That'll get you a meh hotel and some street food for a "big-spending" tourist.

 

Merchants that jump through hoops apparently will be allowed to accept up to 500K total per month from all sources.

 

[PETERTHEEATER]

9 hours ago, HappyExpat57 said:

And we all know what cat's do in a sandbox.

Dig for Crapto currency?

[Will B Good]

Just now, PETERTHEEATER said:

Dig for Crapto currency?

 

 

Now that made me laugh!

[beammeup]

Bunch of fuddy duddies here. I think its a great idea. Many (younger) people hold their savings in crypto so: just convert your crypto to baht at a  licensed digital operator, and use you qr code to pay for whatever you want. When it runs out use normal money. Whats the problem?

[Will B Good]

Just now, beammeup said:

Bunch of fuddy duddies here. I think its a great idea. Many (younger) people hold their savings in crypto so: just convert your crypto to baht at a  licensed digital operator, and use you qr code to pay for whatever you want. When it runs out use normal money. Whats the problem?

 

As I see it, cryptos can fluctuate greatly in value in short periods of time.

 

You could be paying way over the odds...... or selling a coin (or rather parts of a coin) only to miss out on a 10% jump in just a day or two.

[Conno]

9 minutes ago, beammeup said:

Bunch of fuddy duddies here. I think its a great idea. Many (younger) people hold their savings in crypto so: just convert your crypto to baht at a  licensed digital operator, and use you qr code to pay for whatever you want. When it runs out use normal money. Whats the problem?

The problem is this is the old system trying to remain relevant. Let the traders receive payment for their products and services in actual crypto if they so wish. They can then switch it into paper trash again if they choose to. But no, Thailand banned actual crypto transactions several years ago. The whole objective of crypto is no 3rd party middle man. Until that happens this is all smoke and mirrors.