🥰 Thailand 🇹🇭: Tourists will be able to pay with cryptocurrencies as part of the financial system modernization

🥰 Thailand 🇹🇭: Tourists will be able to pay with cryptocurrencies as part of the financial system modernization

The Thai Ministry of Finance and the Bank of Thailand are evaluating an initiative to enable foreign visitors to link their crypto funds to credit cards, making it easier to use digital assets during their stay in the country.

➡️ Local merchants will receive payments in local currency, without needing to know if the transaction originated in crypto.

➡️ This mechanism aims to avoid direct use of the Thai baht, helping to reduce risks to the national currency’s stability.

➡️ Additional info: In March, Thailand’s Securities and Exchange Commission authorized the use of stablecoins USDT and USDC for crypto trading, allowing them to be included on regulated exchanges across the country.

➡️ A pilot project is expected to launch once the necessary infrastructure and regulatory evaluations are completed.

#news #Asia #crypto

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