Thailand Welcomes Crypto Tourists with New Payment App for Digital Assets

Thailand Introduces Cryptocurrency Payment App for Tourists

In a bid to revive its tourism sector and welcome foreign visitors, Thailand has introduced a new payment application allowing tourists to directly convert their cryptocurrencies into Thai baht. This initiative facilitates seamless transactions at shops and restaurants, eliminating the need for travelers to set up a Thai bank account.

WORPT Payment App

Utilizing the WORPT payment app, which integrates with Thailand's well-known QR PromptPay system, tourists can engage in everyday spending without hassles typically associated with digital currency management.

This innovative service was created through a partnership between Wipay and Waan Exchange, with backing from Tether, the issuer of USDT. Operating within Thailand’s TouristDigiPay regulatory sandbox—monitored by the Securities and Exchange Commission—the app allows users to convert a range of digital currencies, including stablecoins like USDT and USDC, into baht.

How It Works

After depositing their digital assets into the platform, users can conveniently pay by scanning QR codes at participating merchants, who receive Thai baht through established payment channels, negating any requirement for them to handle cryptocurrencies directly.

As part of this new process, users can verify their identities within the app, streamlining the connection to their external cryptocurrency wallets. The WORPT service charges a conversion fee of 1.5%, with plans to launch Visa prepaid card options this November and virtual cards expected by early 2027.

Partnerships and Goals

Furthermore, The Mall Group has partnered with WORPT to become the first retail corporation to embrace this new payment method, offering a significant platform to demonstrate the integration of crypto spending in a retail environment.

Wipay has set ambitious goals for the initiative, anticipating around 200,000 users in its inaugural year and projecting total spending to reach approximately 15 billion baht (around $440 million) over its 18-month test phase. Targeting regions like South Korea, Japan, the Middle East, and Southeast Asia, the initiative aims to attract travelers who already possess cryptocurrencies, enhancing the appeal of Thailand as a destination.

Addressing Tourism Challenges

The introduction of crypto payments comes amid a decline in international tourism and revenue, making it more essential for Thailand to attract high-spending visitors. With stablecoins increasingly gaining traction among global travelers, crypto holders represent a promising demographic for the nation’s tourism earnings, especially given the complexities they once faced in spending their digital assets.

In the past, foreign visitors to Thailand who wanted to use cryptocurrencies often found the process daunting. Converting their digital funds to baht typically required navigating exchanges or dealing with private peers—each step fraught with potential for errors or scams. As a resident familiar with the landscape, I've witnessed firsthand the frustrations faced by tourists struggling to translate crypto holdings into local currency.

WORPT stands as a significant advancement, eliminating previous challenges and fostering trust in crypto transactions within the Thai context.