Isabella García
Thailand is preparing to integrate cryptocurrency into its tourism sector, allowing international visitors to spend digital assets through credit card-linked payment platforms. This forward-thinking move is part of a broader government initiative to modernize the nation’s financial infrastructure and promote digital innovation.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira unveiled the plan during an investment seminar in Bangkok on May 26, as reported by both The Nation and the Bangkok Post.
The upcoming system will let tourists connect their crypto wallets to credit card services, enabling purchases in Thailand without using Thai baht directly. Local merchants will receive payments in baht, typically unaware that cryptocurrency was used in the backend.
“This model could be adopted immediately, assuming the required digital infrastructure is operational,” said Pichai. By avoiding direct use of the baht, this method aims to limit currency volatility and protect the domestic financial system.
Regulatory Overhaul for Traditional and Digital Markets
Thailand isn’t stopping at crypto payments. A complete overhaul of capital markets regulation is also underway. Pichai emphasized the need to merge oversight of traditional financial markets with digital assets, which are currently governed by separate regulatory frameworks.
In addition, the Ministry of Finance is reviewing restrictions on institutional investment policies. Current laws limit large players such as life insurers and mutual funds to government bonds. The government aims to allow broader access to equities and private sector investments, unlocking hundreds of billions of Thai baht.
Upcoming legislation may also target outdated rules surrounding treasury stock, while new controls on high-frequency trading are expected to increase market fairness. A draft law is being crafted to give the Thai Securities and Exchange Commission (SEC) expanded authority to bring major financial cases directly to prosecutors.
Blockchain-Based Bonds and Stablecoin Approvals Signal Digital Momentum
Thailand’s support for digital assets doesn’t stop at policy talks. Pichai reiterated the administration’s backing of blockchain innovation, highlighting the introduction of “G-Tokens” — blockchain-based instruments that will allow retail investors to purchase fractional government bonds.
This initiative aims to offer better returns for savers while enhancing the global visibility of Thai sovereign debt.
On May 13, the Ministry of Finance disclosed plans to issue $150 million worth of tokenized investment instruments. These would offer retail access to bonds, further democratizing Thailand’s financial markets.
In parallel, the Thai SEC is moving to modernize trading systems. Back in February, it proposed a tokenized securities platform for institutional traders. And in March, regulators approved the use of major stablecoins — Tether’s USDt and Circle’s USDC — for cryptocurrency trading on licensed exchanges across the country.
