Thai SEC Launches TouristDigiPay Sandbox for Digital Asset Conversion by Foreign Tourists

Thailand Unveils TouristDigiPay Sandbox to Boost Tourism

Thailand's Securities and Exchange Commission (SEC) has officially launched the TouristDigiPay sandbox, a pilot project designed to allow foreign tourists to convert their digital assets into Thai Baht for spending on goods and services across the country. The regulations for this innovative initiative took effect on September 24, 2025, with applications for digital asset business operators and e-money service providers opening on September 25, 2025. Services under the project are anticipated to begin in the fourth quarter of 2025.

The TouristDigiPay sandbox is a collaborative effort involving the Ministry of Finance, the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports, alongside the SEC. The Bank of Thailand (BOT) also plays a crucial role in regulating the e-money service providers involved. This 18-month regulatory sandbox aims to support innovation, promote economic growth, and strengthen Thailand's vital tourism sector.

How TouristDigiPay Works for Visitors

Foreign tourists wishing to utilize the TouristDigiPay system will need to follow a structured process to ensure compliance and security:

• Tourists must open accounts with licensed digital asset operators, regulated by the SEC, and e-money service providers, regulated by the BOT, upon their arrival in Thailand.
• Digital assets will be converted into Thai Baht, which will then be credited to the tourist's e-money wallet.
• Payments for goods and services will be made via Thai QR code scanning. It is important to note that merchants will receive payments in Thai Baht, and direct payments using digital assets are not permitted.
• Strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, in accordance with AMLO rules, are mandatory for all participants.
• The service is exclusively available to foreign tourists temporarily residing in Thailand.

To manage potential risks, the project includes specific spending limits. Payments to small retail merchants are capped at THB 50,000 per month, while payments to Know Your Merchant (KYM)-verified merchants can go up to THB 500,000 per month.

Strategic Goals and Official Statements

The TouristDigiPay sandbox is a strategic move by the Thai government to adapt to evolving global financial trends and enhance the visitor experience. Anek Yooyuen, SEC Deputy Secretary-General and spokesperson, stated that the project is expected to 'facilitate convenient spending through Thai QR Code scanning, promote Thailand's digital economy, and distribute income across communities and localities, while effectively managing potential risks at appropriate levels.' Pornanong Budsaratragoon, SEC Secretary-General, highlighted that the project 'builds upon the existing ecosystem that integrates the digital asset trading system regulated by the SEC with the e-money system regulated by the Bank of Thailand.'

Officials anticipate that this initiative will boost tourist spending, with an estimated increase of 10%, potentially generating an additional 175 billion Thai Baht. The pilot program's success will be evaluated after its 18-month run to inform future developments and potential expansion of digital asset integration into the broader economy.