Thai Prime Minister Paetongtarn Shinawatra has announced a new initiative allowing the use of digital assets for payments in Phuket, one of Thailand’s most popular tourist destinations. This decision aims to make it easier for foreign visitors to adapt to local services. Finance Minister Chunhavajira revealed that the program will launch later this year, emphasizing the government’s focus on regulating digital asset platforms to ensure safe transactions. This move is part of Thailand’s broader strategy to adopt cryptocurrency, including a sandbox program focused on stablecoins, designed to encourage innovation while minimizing risks. The pilot program in Phuket is expected to enhance the tourism sector by enabling secure and efficient use of digital currencies.
Thai Prime Minister Paetongtarn Shinawatra has announced an exciting initiative that will allow the use of digital assets for payments in Phuket. This popular tourist destination is set to introduce payment products and services powered by digital currencies, making it easier for visitors, especially foreigners, to navigate their financial transactions while enjoying their stay.
During a recent press conference, Shinawatra emphasized that this initiative aims to enhance the experience of foreign tourists. By integrating digital assets into the local economy, the Thai government hopes to help visitors adapt their lifestyles more seamlessly. Finance Minister Chunhavajira stated that this program is expected to launch later in 2025. He assured that the government is committed to regulating digital asset platforms to ensure a smooth transition for businesses and consumers alike.
This move is part of a broader strategy to boost crypto adoption in Thailand. The government also plans to launch a crypto sandbox program focusing on stablecoins. This initiative will allow businesses and consumers to test crypto transactions while managing risks, fostering innovation in the financial sector.
The pilot program in Phuket is particularly beneficial for the tourism industry. It will facilitate secure and efficient transactions for local businesses and visitors, contributing to a more dynamic financial ecosystem. As Thailand embraces digital assets, it signals a significant shift in the country’s approach to modern finance, positioning itself as a forward-thinking destination in Southeast Asia.
Tags: Thailand, Digital Assets, Phuket, Tourism, Cryptocurrency, Fintech, Crypto Adoption, Payment Solutions
By Vietnam News Agency
Tue, January 21, 2025 | 9:59 pm GMT+7
What is Thailand’s plan with cryptocurrency?
Thailand wants to use cryptocurrency to help boost its economy. The government hopes that by supporting digital currencies, they can attract more investors and create new job opportunities.
How will cryptocurrency help the economy?
Cryptocurrency can bring in foreign investment and improve financial technology in Thailand. It can also help local businesses by making transactions faster and cheaper, increasing overall economic activity.
Is cryptocurrency safe to use in Thailand?
While cryptocurrency offers many benefits, it can also be risky. The Thai government is working on regulations to protect users and promote safe practices in using digital currencies.
What can people do with cryptocurrency in Thailand?
In Thailand, people can use cryptocurrency for buying goods and services, investing, and trading on exchanges. Some businesses are starting to accept digital currencies as payment, making it easier for users to spend their crypto.
How will Thailand educate people about cryptocurrency?
The Thai government plans to launch educational programs. These will help people understand how cryptocurrency works, its benefits, and how to use it safely. Keeping the public informed is a key part of their strategy.
