Thailand launches Tourist Wallet for convenient payments for foreign tourists, currently not supporting Crypto Assets.

On August 18, Thailand launched the Tourist Wallet for foreign tourists, which allows QR code payments for exchanging foreign currencies into Thai Baht. However, the Crypto Assets exchange feature has been suspended due to regulatory review and is expected to be unavailable until mid-August.

The Bank of Thailand stated that the purpose of launching the Tourist Wallet is to address a practical issue: cross-border QR code payments are currently only available in countries including Singapore, Malaysia, and upcoming partner countries. Tourists from other countries still face inconveniences when making payments in Thailand, and the new wallet aims to solve this pain point.

Visitors can recharge their wallets in the following ways: using cash at the service provider's counter, binding an overseas debit card or credit card, or making overseas bank transfers. The consumption limits are as follows: merchants using card terminals can spend up to 500,000 Thai Baht (approximately 13,800 USD) per month, while small merchants can spend up to 50,000 Thai Baht per month. Cash withdrawals are prohibited, and accounts can only be closed through redemption.