The post TouristDigiPay Enables Crypto-to-Baht for Foreign Visitors appeared on BitcoinEthereumNews.com.

Key Highlights: TouristDigiPay allows crypto conversion to baht for foreign tourists in Thailand. New electronic wallets and QR code payments offer simple, secure transactions. Strict KYC and spending limits boost safety, keeping funds accessible only on account closure. Thailand Launches TouristDigiPay to Boost Crypto Payments for Visitors The Thai government has announced the launch of the TouristDigiPay initiative, which will allow foreign tourists to convert digital assets into Thai baht for payments. The program is set to begin on August 18, 2025, as a response to the slowdown in tourism, especially from Chinese visitors. Deputy Prime Minister and Finance Minister Pichai Chunhavajira will announce full TouristDigiPay details on Monday. Source: Pichai Chunhavajira Details of the initiative will be presented at a press conference attended by Finance Minister Pichai Chunhavajira and representatives from the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), the Bank of Thailand (BOT), and the Ministry of Tourism and Sports. Eligibility, Compliance, and Security Measures According to the statement, tourists wishing to use the service must register with licensed e-money and digital asset providers regulated by the SEC and BOT. Mandatory identity verification will be conducted in accordance with AMLO requirements. Only foreign tourists temporarily residing in Thailand will be eligible to use the service. Additionally, the Bank of Thailand has announced the development of the Tourist Wallet—an electronic wallet intended for foreigners, enabling payments via QR codes. To prevent financial crimes, particularly money laundering, transaction limits are being imposed: up to 500,000 baht per month for merchants with card terminals and up to 50,000 baht for small merchants. Transactions with high-risk businesses are prohibited, and tourists will only be able to withdraw funds upon closing their accounts, with no access to cash during their stay. Source: https://coinpaper.com/10546/thailand-unveils-crypto-to-baht-scheme-to-jumpstart-tourism

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Filed under: News - @ August 18, 2025 5:24 am