Thailand plans to launch pilot program for Bitcoin payments in Phuket in 2025.

As part of the initiative, one of Thailand’s most popular tourist destinations will offer foreign visitors an alternative payment option using cryptocurrency.

Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the initiative on January 8 at a seminar hosted by the Marketing Association of Thailand, as reported by Nation Thailand.

Pichai emphasized that the pilot will operate within Thailand’s existing legal frameworks, requiring no changes to current laws. The program seeks to integrate digital currency into daily transactions, allowing tourists to register Bitcoin through a Thai exchange, verify their identities, and make purchases. A clearinghouse will convert Bitcoin transactions into Thai baht to ensure compliance with legal regulations.

The initiative aims to enhance accessibility to digital transactions in tourism-focused cities and maintain Thailand's competitiveness in the global market. Foreign tourists will need to verify their identities before using cryptocurrencies for goods and services.

To illustrate the program’s potential, Pichai referred to refugees from the Russia-Ukraine war, who could use Bitcoin to purchase property in Thailand without needing to obtain Thai baht.

In December 2024, former Prime Minister Thaksin Shinawatra urged the Thai government to explore cryptocurrencies and engage in sandbox trials to stay ahead in global digitization. However, he advised against the government investing in cryptocurrencies directly. 

Shinawatra also warned about challenges under the incoming Donald Trump administration in the United States, including potential trade tariffs and suggestions to use Bitcoin to address U.S. debt.

Additionally, Binance Thailand CEO Nirun Fuwattananukul commented in October 2024 on the regulatory changes proposed by Thailand’s Securities and Exchange Commission (SEC).

He noted that the SEC’s efforts to broaden investment options in digital assets reflect a move toward legitimizing cryptocurrencies. Fuwattananukul highlighted the broader goal of fostering a mature ecosystem where traditional finance and digital assets coexist.