Thailand launches WORPT, allowing tourists to exchange cryptocurrency for baht and pay by scanning QR codes
On November 13, the WORPT app officially launched under Thailand’s Tourist DigiPay regulatory sandbox. Operated by an entity under Waanx, the app has been approved by Thailand’s Securities and Exchange Commission (SEC) to participate in the pilot. International tourists can exchange supported cryptocurrencies, including USDT and USDC, for Thai baht, then scan Thailand’s QR PromptPay codes to pay for goods and services. The platform is also preparing a Visa prepaid card service to make it easier for tourists to use their funds abroad. Her Majesty Queen Sirikit The Queen Mother
It is important to note that the pilot does not support direct payments with digital assets. Tourists must first open a digital asset business account regulated by the SEC and an electronic payment account regulated by the central bank. After completing the exchange in their wallet, they can settle payments in Thai baht. The sandbox testing period will last 18 months and include risk-control measures such as transaction limits. It is designed for small purchases by inbound tourists, not as a cryptocurrency payment channel for local residents.
This is a controlled attempt by a Southeast Asian tourism economy to bring stablecoins into in-person retail payments. Key developments to watch include the volume of exchanges during the sandbox period, merchant coverage, and whether the Visa prepaid card, once launched, can extend the use of crypto assets beyond Thailand.
#Thailand #StablecoinPayments #TouristSpending $SEI
#泰国推出worpt支持游客加密货币兑泰铢消费
On November 13, the WORPT app officially launched under Thailand’s Tourist DigiPay regulatory sandbox. Operated by an entity under Waanx, the app has been approved by Thailand’s Securities and Exchange Commission (SEC) to participate in the pilot. International tourists can exchange supported cryptocurrencies, including USDT and USDC, for Thai baht, then scan Thailand’s QR PromptPay codes to pay for goods and services. The platform is also preparing a Visa prepaid card service to make it easier for tourists to use their funds abroad. Her Majesty Queen Sirikit The Queen Mother
It is important to note that the pilot does not support direct payments with digital assets. Tourists must first open a digital asset business account regulated by the SEC and an electronic payment account regulated by the central bank. After completing the exchange in their wallet, they can settle payments in Thai baht. The sandbox testing period will last 18 months and include risk-control measures such as transaction limits. It is designed for small purchases by inbound tourists, not as a cryptocurrency payment channel for local residents.
This is a controlled attempt by a Southeast Asian tourism economy to bring stablecoins into in-person retail payments. Key developments to watch include the volume of exchanges during the sandbox period, merchant coverage, and whether the Visa prepaid card, once launched, can extend the use of crypto assets beyond Thailand.
#Thailand #StablecoinPayments #TouristSpending $SEI
#泰国推出worpt支持游客加密货币兑泰铢消费
