Summary

  • A new service has been launched in Thailand that allows foreign tourists to convert digital assets into local currency for payments.
  • The service was launched as part of TouristDigiPay, a crypto payment pilot program run by Thailand’s SEC.
  • Wipay projects 200,000 users in the first year and 15 billion baht in crypto payments over 18 months.

Forecast Trend Report by Period

Thailand may be moving toward broader use of digital assets. A new service has been launched for foreign tourists, allowing them to convert crypto into local currency for payments.

Bloomberg reported on November 13 that Thai fintech firms Wipay and Waan Exchange launched WORPT, a crypto payment app for foreign tourists.

WORPT allows travelers to exchange their digital assets into Thai baht and make payments by scanning QR codes. The service does not require a local Thai bank account.

The launch is part of TouristDigiPay, a crypto payment pilot program run by Thailand’s Securities and Exchange Commission.

Wipay projects 200,000 users in the service’s first year and 15 billion baht, or about $440 million, in crypto payments during the 18-month pilot period.

Uk Jin