Binance eyes Thai crypto tourists in new baht conversion push
Thailand plans crypto-to-baht service for visiting tourists
Binance TH is exploring local partnerships to join a new Thai initiative allowing foreign tourists to convert digital assets into baht during their visits.
Binance Thailand, the local arm of the world’s largest cryptocurrency exchange, is gearing up to join the government’s TouristDigiPay programme, a digital finance sandbox designed to let foreign tourists convert crypto into Thai baht for spending during their travels.
The initiative, backed by the Bank of Thailand (BoT) and the Anti-Money Laundering Office (AMLO), is expected to launch by the end of the year. It aims to boost the kingdom’s tourism economy while keeping a firm grip on financial regulations.
“Binance serves nearly 300 million users globally and is regarded as one of the most trusted digital asset platforms,” said Nirun Fuwattananukul, CEO of Binance TH, operated by Gulf Binance.
“We are excited to support TouristDigiPay and show how our platform can elevate the tourist experience in Thailand.”
To join the programme, Binance TH must partner with an e-money licence holder regulated by the BoT. Nirun said the exchange is actively evaluating local collaborators to ensure the rollout is seamless, secure, and compliant with all financial regulations.
He added that the programme is aligned with Thailand’s broader push toward a digital economy and offers a new revenue stream by tapping into the growing global population of crypto holders.
To ensure security and transparency, regulators have imposed strict anti-money laundering (AML) measures. These include spending caps of 500,000 baht per person per month and rigorous know-your-customer (KYC) checks. Tourists will be required to verify their identities using near-field communication (NFC) chips embedded in their passports, according to Bangkok Post.
“Thai regulators are taking a balanced approach, welcoming innovation while enforcing oversight and risk management.”
Binance TH also plans to go beyond the regulatory minimum by implementing enhanced risk-based systems to detect and report suspicious transactions.
“If any red flags are detected, accounts can be frozen and reported to authorities without delay.”
With this move, Thailand is positioning itself at the forefront of crypto-tourism innovation. And with Binance’s involvement, the kingdom may soon be a hotspot not just for beaches and temples, but also for digital finance.
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