How can tourists spend crypto in Thailand?

Tourists can use the new Tourist DigiPay system to convert digital assets into Thai baht for spending.

What is Thailand's Tourist DigiPay?

It's a regulated system allowing international visitors to exchange crypto for Thai baht through digital wallets.

Who developed Thailand's crypto payment system?

The system was developed by Thailand's SEC, Bank of Thailand, and Amlo to ensure compliance and security.

Home / Business and Economy / Thailand Unlocks Crypto for Tourists

Thailand Unlocks Crypto for Tourists

26 Nov

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Summary

New system allows tourists to convert digital assets to Thai baht.
Regulated platform ensures compliance with anti-money laundering rules.
Pilot program aims to boost tourism and support small businesses.

Thailand is set to welcome tourists with a new digital payment solution, Tourist DigiPay, allowing them to convert digital assets into Thai baht. This forward-thinking system has been developed collaboratively by the Securities and Exchange Commission, the Bank of Thailand, and Amlo, ensuring a regulated and secure environment for transactions.

The initiative enables international visitors to seamlessly exchange cryptocurrencies for baht via linked digital wallets. This move is poised to significantly support the nation's tourism sector by offering a convenient spending method while upholding stringent anti-money laundering protocols.

This pilot program signifies Thailand's commitment to embracing digital innovation. By facilitating crypto payments, the country aims to attract more tourists and provide a valuable boost to small businesses across the nation.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.