Thailand introduces a cryptocurrency Sandbox for travel payments

Thailand is set to launch the "TouristDigiPay" program on Monday, allowing foreign tourists to convert cryptocurrency to Thai baht for electronic payments within the legal framework.

This initiative aims to revive Thailand's tourism sector by integrating cryptocurrency in a controlled environment, with expected market responses as the program is implemented.

Participants need to open accounts at digital asset companies regulated by the U.S. Securities and Exchange Commission (SEC) and the Bank of Thailand. The program operates in a legal sandbox to ensure oversight and prevent the direct use of cryptocurrencies in payments. This introduction has attracted attention, focusing on the goal of promoting tourism, providing a digital asset trading framework for international short-term visitors in Thailand.

Notably, Thailand previously prioritized electronic payment solutions using fiat money such as TAGTHAi EASY PAY. "TouristDigiPay" marks a turning point in bringing cryptocurrency into the mainstream channel.