Thailand is taking bold steps toward integrating cryptocurrencies into its real economy, starting with an innovative plan to enable tourists to link their digital assets directly to credit cards for use in domestic purchases.
Government Initiative to Link Crypto with Credit Cards
At the ‘Dailynews Talk 2025: Revitalising Stocks & Crypto in H2 2025’ event, Deputy Prime Minister and Finance Minister Pichai Chunhavajira unveiled the ambitious initiative. The Ministry of Finance is studying international models that allow cryptocurrencies to be directly connected to credit cards so visitors can easily spend crypto in Thailand.
This system would work seamlessly for merchants, who would receive payments in local currency without necessarily knowing the buyer used cryptocurrency. The goal is to make transactions effortless and widely accepted, helping Thailand attract more crypto-savvy tourists.
Pilot Program with the Bank of Thailand Underway
The Ministry of Finance is collaborating closely with the Bank of Thailand (BOT) to pilot the crypto-linked credit card system before a full rollout. If successful, this could revolutionize payment methods and position Thailand as a regional leader in crypto adoption for tourism.
Broader Vision: Legal and Market Reforms
Minister Pichai also outlined plans to amend existing laws to bridge Thailand’s traditionally separate “capital market” and “digital asset market.” Currently governed by the Securities and Exchange Act and the Emergency Decree on Digital Asset Businesses, these frameworks limit fluid movement of funds between stock investments and crypto assets.
The planned reform aims to modernize regulations, offering investors greater flexibility to transfer capital between conventional stock markets and digital asset platforms—making Thailand’s financial landscape more adaptive to evolving global investment trends.
International Context and Local Adaptation
“In some countries, crypto can be linked to credit cards so that merchants get paid in local currency and often don’t even realize crypto was used,” Minister Pichai explained. “We can adapt this model for Thailand, with supporting infrastructure in place, but it will not involve our domestic currency.”
This cautious stance aims to balance innovation with financial stability and regulatory prudence.
Positive Outlook on Thai Stock Market Stability
Alongside crypto initiatives, Minister Pichai emphasized the resilience of the Thai stock market, noting it has weathered US policy shifts better than many regional peers, maintaining relative stability. He highlighted the continued attractiveness of fundamental stocks as a solid investment avenue.
Institutional Investment Reforms in Progress
The Finance Ministry is reviewing restrictions that currently limit major institutional funds—such as insurance funds worth hundreds of billions of Baht—from investing beyond government bonds. Proposed regulatory changes would expand their ability to invest in stocks, potentially unlocking significant new capital flows into the market.
Encouraging Growth of Companies and Green Initiatives
Minister Pichai called on larger corporations to update their business models to align with global trends, especially regarding green and sustainable initiatives. At the same time, policies will support smaller companies with growth potential, helping them scale into medium and large enterprises through new ministerial regulations.
Potential Challenges and Risks of Crypto Integration
While the initiative promises innovation, experts caution about potential risks such as cybersecurity vulnerabilities, money laundering, and regulatory compliance challenges. The government and BOT are expected to implement robust safeguards to mitigate these risks and protect both consumers and businesses.
Impact on Tourism and Local Businesses
Linking crypto to credit cards could significantly enhance the tourist experience by offering new payment options that appeal to younger, tech-savvy travelers. Local businesses, especially in tourist hotspots, could benefit from increased spending and access to an expanded customer base using digital assets.
Thailand’s Forward-Looking Financial Ecosystem
Thailand’s efforts to integrate cryptocurrencies with traditional financial systems and tourist spending represent a forward-thinking approach to digital finance. By modernizing regulations and enabling crypto payments via credit cards, Thailand aims to enhance investor flexibility, attract new visitors, and stimulate economic growth in a rapidly changing global environment.
