Thailand Prepares to Launch Cryptocurrency Payment Pilot in Phuket to Boost Tourism
09.01.2025 22:00 1 min. read Alexander Zdravkov
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.
-
1
Circle’s Financial Report Reveals Notable Profit Drop Amid Regulatory Costs
04.04.2025 22:00 2 min. read -
2
Wealth Gap Widens: Top 10% of Americans Hold Over $107 Trillion in Assets
06.04.2025 14:00 2 min. read -
3
Pump.fun Revives Live Streaming Amid Memecoin Market Slump
07.04.2025 18:00 2 min. read -
4
Pakistan Taps Binance Founder Changpeng Zhao as Crypto Advisor
08.04.2025 10:01 2 min. read -
5
Fed Signals Readiness to Intervene if Markets Turn Disorderly
12.04.2025 12:00 2 min. read
Circle Doubles Down on Global Expansion With Abu Dhabi License
Circle, the company behind the popular stablecoin USDC, is expanding its global footprint after securing a key regulatory license in the United Arab Emirates.
Coinbase Teams Up with Founders Factory to Support UK Crypto and AI Startups
Coinbase is stepping deeper into the worlds of blockchain and AI with a new 16-week startup accelerator, created in collaboration with Founders Factory, Animoca Brands, and Fabric Ventures.
Tether’s XAUT Confirms Gold Reserves as Demand Surges Amid Global Uncertainty
Tether’s tokenized gold product, XAUT, has officially confirmed its reserves, revealing backing of over 246,500 ounces of gold — more than 7.7 tons.
Vitalik Buterin Responds to Critics with Plan to Transform Ethereum
Ethereum is once again at a crossroads, facing mounting concerns about whether its core network can keep up with growing demand.
-
1
Circle’s Financial Report Reveals Notable Profit Drop Amid Regulatory Costs
04.04.2025 22:00 2 min. read -
2
Wealth Gap Widens: Top 10% of Americans Hold Over $107 Trillion in Assets
06.04.2025 14:00 2 min. read -
3
Pump.fun Revives Live Streaming Amid Memecoin Market Slump
07.04.2025 18:00 2 min. read -
4
Pakistan Taps Binance Founder Changpeng Zhao as Crypto Advisor
08.04.2025 10:01 2 min. read -
5
Fed Signals Readiness to Intervene if Markets Turn Disorderly
12.04.2025 12:00 2 min. read
