Thailand is reportedly planning a nationwide regulatory sandbox allowing foreign visitors to convert crypto into local currency for electronic payments in a bid to boost tourism.

Known as TouristDigiPay, the scheme is expected to go live on Monday and allow users to exchange cryptocurrencies for Thai baht and make electronic payments through e-money service providers, according to a report on Saturday from local newspaper The Nation.

Only tourists in Thailand will be eligible to use the service after undergoing Know Your Customer due diligence checks and opening an account with a digital asset business and an e-money provider regulated by the Bank of Thailand and the country’s Securities and Exchange Commission.

There will also be safeguards such as monthly spending limits and a block on direct cash withdrawals. However, full details on the TouristDigiPay initiative will reportedly be released on Monday by Deputy Prime Minister and Finance Minister Pichai Chunhavajira.

Officials hope crypto can boost tourism

The TouristDigiPay scheme is an attempt to breathe new life into Thailand’s tourism industry, and a direct response to the slowdown in foreign visitors, especially from China, which has long been considered a cornerstone of the industry, The Nation reported.

Thailand welcomed around 16.8 million tourists in the first half of 2025, down from 17.7 million the same time last year, with a 24% drop in tourists from East Asia and a 34% fall in visitor numbers from China, think tank The World Tourism Institute said in a July 10 report. 

The report said tourists are eyeing other countries in the region, such as Japan with its weaker Japanese yen making it more affordable, and the comparatively cheaper Vietnam.