Thailand Prepares to Launch Cryptocurrency Payment Pilot in Phuket to Boost Tourism

Thailand is preparing to test a new cryptocurrency payment system in Phuket, aiming to integrate digital currencies into its existing legal framework.

Finance Minister Pichai Chunhavajira revealed the initiative, emphasizing that the project would not require new laws and would operate within current regulations.

The pilot program will allow foreign tourists to register their cryptocurrencies through Thai exchanges, use them for transactions after identity verification, and convert them into Thai baht through a clearinghouse. Chunhavajira highlighted the growing demand for digital currencies like Bitcoin, particularly in the tourism and property sectors, suggesting that paying with Bitcoin could offer a simpler solution for people fleeing political instability.

As Thailand looks to strengthen its tourism sector, which is expected to welcome 39.8 million visitors by 2025, the government is also eyeing global trends in cryptocurrency adoption. Despite the optimism, some experts warn that the country could fall behind in the crypto space without taking more strategic action. Jirayut Srupsrisopa, CEO of Bitkub Capital, stressed that Thailand’s delay in establishing a Bitcoin reserve could cost the country in the long run.

While the government moves cautiously, cryptocurrency adoption is already happening at the grassroots level. In Kalasin province, businesses in the Huay Phueng district have started accepting Bitcoin for everyday purchases, showing how local communities are embracing digital assets.