In 2025, Thailand will allow tourists at the Phuket resort to use cryptocurrencies for payment of goods and services. This was announced by the Deputy Prime Minister and Minister of Finance of the Kingdom, Pichai Chunhavanij, as reported by RB.RU .
Transactions will be conducted in Bitcoin as part of a pilot project. To use this cryptocurrency as a payment method, foreign tourists will need to register on a local exchange and undergo identity verification, after which clearinghouses will convert Bitcoins into Baht.
It is also clarified that no changes to the country's legislation will be required for cryptocurrency transactions. Thailand's Minister of Finance, Pichai Chunhavanij, explained the necessity of the initiative due to the growing popularity of cryptocurrencies among foreign tourists. He cited the payment for real estate as an example of how cryptocurrencies can be utilized.
According to forecasts from Statista, the number of cryptocurrency holders in Thailand could reach 17.67 million by 2028, with a total population of 71 million people. In 2024, 15.43 million people in the Kingdom used cryptocurrency. Analysts expect that the total revenue from the cryptocurrency market in Thailand will reach 488.9 million dollars in 2025.