Thailand is taking a significant step toward integrating digital assets into its economy by proposing a system that allows tourists to spend cryptocurrency through credit card-linked platforms.
The initiative was announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira at an investment seminar in Bangkok, according to local media outlets Bangkok Post.
The system would let international travelers use crypto holdings for everyday purchases in Thailand, while merchants would still receive payment in Thai baht.
The Ministry of Finance and the Bank of Thailand are currently reviewing the plan. Under the proposed model, tourists could connect their digital wallets to traditional credit cards, enabling crypto payments to be processed in a way that does not expose local businesses to the volatility or complexities of cryptocurrencies.
This design ensures a frictionless experience for both consumers and merchants, who may not even be aware that crypto was used. Pichai emphasized that this structure avoids placing strain on the baht, as foreign currencies or crypto assets are converted outside the Thai monetary system.
Regulatory Reforms Target Capital Markets and Digital Assets
Beyond the tourism-focused initiative, Thailand is planning broader reforms to harmonize the regulatory treatment of digital and traditional financial markets.
Pichai stated that current regulations governing the capital markets and digital assets, such as those found in the Securities and Exchange Act and the Emergency Decree on Digital Asset Businesses, need unification.
The goal according to Pichai is to foster innovation in financial services while maintaining systemic oversight. A streamlined legal framework could make Thailand a more attractive destination for blockchain and fintech investment.
Another part of the proposed reform is to review and potentially lift restrictions that limit institutional investors, such as insurance companies and pension funds, to mostly government-issued securities.
These entities collectively manage hundreds of billions of baht but face limitations that restrict exposure to equities and other private-sector financial instruments. Changes to these rules could diversify investment options and increase liquidity in Thailand’s capital markets.
In addition, the Ministry of Finance is examining ways to strengthen market supervision. This includes drafting legislation to grant the Thai Securities and Exchange Commission (SEC) more direct enforcement powers, particularly in high-profile cases.
Revisions to rules on treasury stock repurchases and regulation of high-frequency trading are also under consideration, aimed at improving fairness and stability in the market.
Thailand is also testing the use of government-issued blockchain-based tokens, known as “G-Tokens,” to allow fractional retail investment in sovereign bonds. The effort aligns with Thailand’s broader push to modernize public finance and could expand retail investor access to low-risk instruments traditionally reserved for institutions.
Pichai noted that this mechanism could raise the country’s profile in global debt markets while improving returns for domestic savers.
Thailand’s crypto-friendly posture follows similar initiatives in Asia, where countries like Hong Kong and Singapore are also adapting to blockchain innovation.
