Thailand introduced its tourist wallet for currency-to-baht QR payments, but the Crypto conversion function has been suspended pending a regulatory review through mid-August.
Bank of Thailand said Tourist Wallet is intended to solve a practical problem: cross-border QR links are only live with eight partner countries, including Singapore, Malaysia and soon China via Unionpay. Travelers from other places still face friction when they pay in Thailand, something the new wallet aims to tackle.
Tourists will be able to fill their wallets with cash to provider counters, foreign debit and credit cards or overseas bank transfers. Consumer Hoods Apply: 500,000 Baht ($ 13,800) A month for merchants with card terminals and 50,000 baht for small stores. Cash withdrawals are prohibited and accounts can only be closed through redemption.
However, the crypto angle remains conditional. The country’s securities and exchange commission is testing whether regulated exchanges and custodians can certainly allow foreign tourists to convert Krypto to Baht -Saldi for use in the tourist wallet.
The scheme would require full pass-based knowledge-your-customers identification (Kyc)With regulators that cite concerns about mule accounts and money laundering. Until the regulatory review process, called a sandbox, closes and regulators, publish results currently planned for later this month, crypto holders may not be able to use directly.
Currently, the Tourist Pultius is a Fiat game that is dressed in QR -Code -Confirmity, with Crypto -Reconciliation, still pending the result of the sandbox process.
