Thailand introduces digital payment system as cryptocurrencies take over the tourism industry
Thailand is turning to digital currencies
Thailand, the second-largest economy in Southeast Asia, has launched TouristDigiPay A new system allowing foreign visitors to convert cryptocurrency into Thai baht for everyday purchases via QR codes. The initiative comes as the country experiences a drop in arrivals, particularly from China, and aims to bolster competitiveness in the global tourism market.
From the beginning of the year to August 10, 2025, Thailand was visited by 20.1 million foreign tourists, with revenue reaching 937.6 billion baht (28.8 billion US dollars). However, a reduced influx of Chinese travellers significantly impacted the results.
How does it work TouristDigiPay
The system allows tourists to convert their digital currencies, such as Bitcoin or Ethereum, into baht through licensed digital service and e-money providers, under the supervision of the SEC and the Bank of Thailand. Payments are made by scanning a QR code – a method that is already standard in the country.
The project is introduced through regulatory sandbox, a controlled environment that guarantees security, regulatory compliance, and protection against financial abuse.
The programme is only available to foreign tourists, and the condition for its use is KYC i CDD Checks. Limits are up to 500,000 baht per month for large merchants and 50,000 baht for smaller ones. Cash withdrawals are not permitted, and remaining funds are only refunded upon departure from the country.
The next phase of development envisages linking Tourist Wallet with foreign debit and credit cards, which will further simplify transactions.
Global Trend: Cryptocurrencies are Changing the Way We Pay in Tourism
The Thai move fits into the bigger picture – cryptocurrencies are increasingly entering the mainstream of travel. From B2C bookings to B2B settlements, more and more companies are recognising the stability and speed Stablecoin and the demand from digitally savvy travellers.
“Cryptocurrency has long since moved beyond the theoretical phase,” says Massimiliano Silenzi, CEO of the platform Cryptorefills, which offers flights and hotels paid for with crypto. “Today, almost half a billion people own crypto, and we can see that in their real behaviour.”
The data confirms this – in 2024, as many as 80% of Cryptorefills users paid with cryptocurrency at least once a month, while Travala, crypto OTA, reported that 78% of all its bookings were in digital currencies.
Who are the users of crypto in travel?
The largest share is made up of digital nomads and business travellers who frequently use crypto for additional services like eSIMs or transport. However, the luxury segments are also growing: Travala Concierge offers personalised agents for premium clientele, and crypto travellers' average spend is 2.5 times higher than traditional users.
Interestingly, crypto travellers stay 3.5 times longer on average in destinations, further boosting spending.
Advantages and obstacles
The main advantages are lower fees (below 0.11 TP3T), almost instantaneous settlement and the absence of payment returns (ChargebacksGlobally, blockchain solutions could bring savings of 270 billion US dollars annually to the tourism industry.
However, obstacles remain - from outdated systems at service providers to regulatory uncertainties. While Bitcoin transactions can take 30+ minutes, stablecoins on fast networks (Solana, Base, Optimism) offer near-instant confirmation.
More big players are entering the space: Emirates, airBaltic, Capella Hotels, and Soneva are already accepting crypto via processors, while Stripe and Nuvei are developing solutions for easier integration.
Stability through stablecoins
The biggest momentum comes from Stablecoin tied to fiat currencies, which provide predictable value. In 2024, the volume of stablecoin transactions exceeded Visa by 1.191 trillion and Mastercard by 2.001 trillion.
“Almost every major bank is considering its own digital currency,” emphasizes James Lemon from Stripe.
New models of loyalty and marketing
Blockchain is opening the door to new loyalty programmes – points that don't expire and can be used across different ecosystems. Travala offers a return of up to 101% in Bitcoin or AVA tokens, while NFT memberships grant access to lounges and additional benefits.
Analysing data from crypto wallets enables personalised marketing, whilst the Web3 model gives travellers control over their own data.
Launching TouristDigiPay sustava, Thailand has ranked among the pioneers of digital payments in tourism. At the same time, the global industry is increasingly discovering the benefits of cryptocurrencies – from cost savings and faster settlements to attracting new consumer segments.
Given estimates that the share of crypto in tourist spending could reach 51 per cent by 2030 and a double-digit percentage by 2035, it is clear that travel and digital currencies are becoming increasingly intertwined.
For destinations and businesses looking to stand out, embracing crypto is no longer a question of “if,” but “when.”.
