Thailand Launches Crypto-to-Fiat Conversions for Tourists
Thailand will launch a new scheme on Monday, August 18, to allow foreign visitors to convert cryptocurrency into Thai Baht for payments within the country.
The initiative called “TouristDigiPay” is a direct response to a significant slowdown in tourism, primarily due to a decline in tourists from China, on which the country relies heavily, according to The Nation.
Tourism momentum is weakening, reported the Bangkok Post last week, citing stiff competition from neighbouring countries offering visa exemptions, rising local prices, and border conflicts between Thailand and Cambodia.
Thailand also planned a pilot scheme on the tourist island of Phuket that would enable tourists to spend Bitcoin, but it has yet to…
