Starting in 2025, international visitors will be able to use Bitcoin for transactions. This offers a streamlined and tech-savvy alternative to traditional payment methods.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the initiative on January 8. He shared the news during a seminar organized by the Marketing Association of Thailand. The program, he explained, is designed to work within Thailand’s current legal framework, requiring no amendments to existing laws.
Seamless Bitcoin Transactions for Tourists
The pilot program will allow tourists to register their Bitcoin through a Thai exchange and verify their identities before making purchases. To ensure compliance and simplicity, a clearinghouse will convert Bitcoin transactions into Thai baht, eliminating potential complications for local merchants.
JUST IN:
Thailand’s city Phuket to pilot #Bitcoin and crypto payments for tourists.
Nothing stops this train
pic.twitter.com/DtUhOjI4mL
— Bitcoin Magazine (@BitcoinMagazine) January 8, 2025
According to Pichai, this initiative aims to make digital payments more accessible in tourism-focused cities like Phuket, helping Thailand remain competitive in a fast-evolving global market. “We don’t want to miss the boat when it comes to new business opportunities,” he remarked.
A Glimpse Into the Future
Pichai also highlighted the potential benefits of cryptocurrency in unique scenarios. For instance, he cited refugees from the Russia-Ukraine war who might use Bitcoin to purchase property in Thailand without facing the challenges of acquiring Thai baht.
read on. pic.twitter.com/AUstOF8OdJ
— Panzuki.eth
(@PandaAsiaStreet) January 8, 2025
This push for digital innovation isn’t new to Thailand. In December 2024, former Prime Minister Thaksin Shinawatra urged the government to explore cryptocurrencies and experiment with sandbox programs to stay ahead of the curve. While Shinawatra advised against government investment in digital assets, he emphasized the importance of understanding their potential in an increasingly digitized world.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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