🎉Thailand🇹🇭: Ministry of Finance, SEC and Ministry of Tourism launch crypto-to-baht payment system

🎉Thailand🇹🇭: Ministry of Finance, SEC and Ministry of Tourism launch crypto-to-baht payment system

The system, called TouristDigiPay, was launched today to support the tourism sector, which weakened after new travel restrictions were imposed on Chinese visitors.

▶️Tourist requirements: to use TouristDigiPay, travelers must open accounts with digital asset companies regulated by the Thai SEC and with e-money providers supervised by the Bank of Thailand.

▶️Functionality: the platform enables foreign visitors to convert cryptocurrency into Thai baht for electronic payments.

▶️Provider requirements: providers must hold a local license, pass a strict screening process, apply rigorous “Know Your Customer (KYC)” procedures, and enforce a monthly spending limit to prevent financial crimes while boosting tourism revenues.

▶️Key note: the program applies exclusively to tourists and prohibits direct cash withdrawals.

▶️Context: Thailand’s crypto payment system follows similar initiatives across Asia. The pioneer was Bhutan🇧🇹, which in May launched the world’s first national crypto payment system for tourism, partnering with Binance Pay and DK Bank to enable payments for flights, visa fees, hotels, and even small purchases at local stalls using over 100 cryptocurrencies.

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