Crypto spending via credit cards coming to Thailand
Thailand is set to allow tourists to use cryptocurrencies for local purchases through credit card-linked platforms, marking a significant step in integrating digital assets into the country’s financial ecosystem.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira unveiled the plan during a May 26 investment seminar in Bangkok, signaling the government’s intent to modernize its financial laws and align capital markets with the digital asset sector.
How crypto payments will work for tourists
The Ministry of Finance and the Bank of Thailand are currently reviewing the initiative, which would let tourists spend crypto by linking it to credit cards. Merchants will receive payments in Thai baht as usual—often without knowing cryptocurrency was used—helping reduce risks to the national currency.
“This approach can be immediately adapted for Thailand, provided the supporting systems are in place,” said Pichai. The pilot will launch once infrastructure and regulatory conditions are ready.
Thailand eyes major financial law overhaul
Alongside crypto adoption for tourism, Thailand plans to reform financial regulations to bridge the gap between traditional capital markets and the digital economy. Currently, digital assets and capital markets are governed by separate laws, a divide Pichai wants to eliminate.
He also pointed to outdated restrictions on institutional investors, such as life insurers and large funds limited to government bonds. Proposed reforms may open up these funds to equities and private-sector investment opportunities.
Strengthening the SEC and market regulation
The Ministry of Finance is also working on a draft law to expand the enforcement authority of the Thai Securities and Exchange Commission (SEC). The move would allow the SEC to directly bring major cases to prosecutors.
Other regulatory reforms under consideration include updating rules on treasury stocks and curbing potentially unfair high-frequency trading practices to promote a fairer market environment.
Thailand backs digital assets and blockchain innovation
Pichai reaffirmed the government’s support for digital asset innovation, highlighting the importance of clear regulations that foster growth without endangering financial stability.
He cited the development of “G-Tokens”—blockchain-based digital tokens designed to allow retail investors to buy fractional government bonds. This initiative aims to boost yields for savers and enhance Thailand’s global reputation in sovereign debt markets.
Recent crypto-friendly moves by regulators
On May 13, the Ministry of Finance announced plans to issue $150 million worth of digital investment tokens for retail investors. Earlier in the year, Thailand’s SEC approved stablecoins such as Tether’s USDT and Circle’s USDC for trading on licensed exchanges.
Additionally, the SEC revealed in February that a tokenized securities trading platform for institutional investors is also in the works, further solidifying Thailand’s role as a growing crypto and digital finance hub in Southeast Asia.
