Thailand Rolls Out Crypto Conversion Scheme to Boost Tourism

Thailand will launch an 18-month pilot program allowing foreign tourists to convert cryptocurrency into baht for local payments, aiming to boost its struggling tourism sector.

The conversion cap is set at THB 550,000 to prevent money laundering, with potential adjustments after the trial period, according to Finance Ministry permanent secretary Lavaron Sangsnit on Monday.

Tourists will use Thai-based crypto exchanges to transfer funds into online wallets for spending at local businesses.

Finance Minister Pichai Chunhavajira stated, “This project will support tourism,” and may encourage higher tourist spending.

The initiative comes as Thailand’s state-planning agency revised its 2025 foreign arrival forecast down 10% to 33 million, well below the 2019 peak of 39.9 million visitors that generated THB 1.91 trillion in revenue.