- Thailand will enable tourists to spend cryptocurrency through credit card-linked platforms.
- The plan aims to modernize Thailand’s financial system and support digital asset use.
- The Ministry of Finance and Bank of Thailand are reviewing the initiative and related infrastructure.
- Financial law reforms are planned, including updated regulations for capital markets and institutional investors.
- Thailand is progressing with digital assets, including blockchain-based government bonds and approved stablecoins.
Thailand will let tourists spend cryptocurrency through credit card-linked platforms as part of efforts to update its financial system. Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the plan at an investment seminar in Bangkok on May 26. The move is intended to bring more digital asset integration to the country’s economy.
Officials from the Ministry of Finance and the Bank of Thailand are reviewing the system, which will allow tourists to connect their crypto holdings to credit cards for purchases. Merchants will receive local currency as usual and often will not know a crypto transfer took place. Rollout will begin once technical and regulatory systems are ready.
“This approach can be immediately adapted for Thailand, provided the supporting systems are in place,” said Chunhavajira. He explained that the strategy avoids direct use of local currency in crypto transactions, helping reduce risks to the national currency. According to Chunhavajira, the government is considering reforms to unify rules for traditional and digital capital markets, which are currently governed by separate laws.
Other planned reforms include lifting restrictions on major institutional investors such as life insurers and large funds. Under current rules, many of these institutions are limited to holding government bonds. Potential changes may permit expanded investments in stocks and private sector assets. Additional reforms under review involve treasury stock regulations and oversight of high-frequency trading to ensure fairer operations.
Chunhavajira reiterated support for digital assets, emphasizing the need for clear rules to enable innovation while maintaining financial stability. He referenced “G-Tokens,” a blockchain project that allows retail investors to buy fractional government bonds, which aim to boost investment returns and raise the country’s global finance profile.
On May 13, the Ministry of Finance announced a plan to issue $150 million in digital investment tokens to allow retail investors to access government bonds. Earlier in the year, Thailand’s securities regulator also approved stablecoins such as Tether’s USDT and Circle’s USDC for trading on regulated exchanges, further expanding digital asset options in the country.
For more details, visit the Bangkok Post or The Nation.
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