The Thai government is reportedly preparing a groundbreaking policy that will allow tourists to use cryptocurrency for purchases within the country through a platform linked to credit cards. This initiative is part of Thailand's broader strategy to modernize its national financial system and embrace the global advancement of digital assets.

According to a report by the Bangkok Post on Tuesday (May 27, 2025), Thailand’s Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, stated that the initiative is currently under evaluation by the Ministry of Finance in collaboration with the Bank of Thailand.

The system would enable travelers to link their crypto wallets to credit cards that can be used for transactions at local merchants. Interestingly, merchants will still receive payments in Thai baht, without even knowing that the underlying payment was made with crypto assets.

The trial implementation of this policy will begin once the required technical infrastructure and regulatory frameworks are fully prepared. Pichai added that the model suits Thailand well, as it doesn't involve direct use of baht, which helps minimize potential risks to the domestic currency’s stability.

Capital Market Reform and Investment Regulations

In addition to payment innovation, Thailand is also in the process of undertaking comprehensive reforms to its capital market regulations. Pichai emphasized the need to unify the legal framework governing traditional capital markets and the digital asset sector, which are currently regulated under separate laws. This overhaul is deemed necessary to create legal certainty and regulatory efficiency across both sectors.

The reforms also aim to ease investment restrictions for financial institutions. At present, life insurance companies and other large institutional investors managing hundreds of billions of baht are limited to investing in government bonds. The upcoming reforms would allow them to access private sector investment instruments, including equities.

Moreover, the Ministry of Finance is reviewing rules related to treasury stock (company share buybacks) and drafting policies to supervise high-frequency trading practices, with the goal of building a more equitable and transparent market.

As part of the broader reform plan, a new bill is being drafted to expand the authority of the Thai Securities and Exchange Commission (SEC). This legislation would allow the SEC to pursue major cases directly through the legal system without having to navigate lengthy bureaucratic procedures.

Pichai also reiterated the government’s strong commitment to the development of digital assets, stressing that innovation must go hand-in-hand with the stability of the financial system.

He cited the upcoming launch of G-Tokens — blockchain-based tokens that enable retail investors to purchase government bonds in small denominations — as a concrete example of innovation in progress. This initiative is expected to offer higher returns to the public and enhance the global appeal of Thai government bonds.

This effort builds upon a previously announced policy on May 13, in which the Ministry of Finance disclosed plans to issue digital investment tokens worth THB 5 billion (approximately IDR 2.5 trillion) for retail bond sales.

These developments also align with earlier moves by Thailand's capital market regulators, who in February launched a tokenized securities trading system for institutional investors. Furthermore, in March, the Thai SEC approved the use of stablecoins such as Tether (USDT) and USD Coin (USDC) for transactions on licensed cryptocurrency exchanges.