Thailand is moving forward with plans to allow tourists to spend cryptocurrencies through credit card-linked payment systems, marking an important step in the country's digital asset adoption strategy.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the initiative at an investment seminar in Bangkok on May 26, local media report.
The proposal, currently under consideration by the Ministry of Finance and the Bank of Thailand, will allow visitors to convert cryptocurrencies into Thai baht at the point of sale, with merchants receiving the local currency seamlessly.
Pichai stressed the model mitigates risks to the Thai baht by avoiding direct cryptocurrency transactions in the local economy.
A pilot program is expected to be launched once the regulatory and technical frameworks are finalized.