Tourists will soon be able to pay for goods and services using Bitcoin.
Transactions will be conducted in bitcoins as part of a pilot project. To use BTC as a means of payment, foreign tourists will need to register on a local exchange and undergo identity verification. At the time of purchase, BTC will be automatically converted to Thai baht.
The Minister of Finance of the kingdom, Pichai Chunkhavajira, stressed that it would not be necessary to amend the country's legislation to make payments in cryptocurrency. He explained the need for the initiative by the growing popularity of cryptocurrencies among foreign tourists.
According to the forecast of the Statista portal, the number of holders of cryptocurrencies in Thailand by 2028 may reach 17.67 million people with a total population of 71 million people. In 2024, 15.43 million people used cryptocurrency in the kingdom. Analysts of the service expect that the total revenue of the crypto market in Thailand in 2025 will reach $488.9 million.
Paydex — payment ecosystem for e-commerce businesses of any size
Transactions will be conducted in bitcoins as part of a pilot project. To use BTC as a means of payment, foreign tourists will need to register on a local exchange and undergo identity verification. At the time of purchase, BTC will be automatically converted to Thai baht.
The Minister of Finance of the kingdom, Pichai Chunkhavajira, stressed that it would not be necessary to amend the country's legislation to make payments in cryptocurrency. He explained the need for the initiative by the growing popularity of cryptocurrencies among foreign tourists.
According to the forecast of the Statista portal, the number of holders of cryptocurrencies in Thailand by 2028 may reach 17.67 million people with a total population of 71 million people. In 2024, 15.43 million people used cryptocurrency in the kingdom. Analysts of the service expect that the total revenue of the crypto market in Thailand in 2025 will reach $488.9 million.
Paydex — payment ecosystem for e-commerce businesses of any size