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Thailand Introduces Tourist Wallet for Foreign Visitors, Cryptocurrency Function Still in Sandbox Stage
Summary: According to CoinDesk, Thailand has introduced a Tourist Wallet for foreign visitors, allowing QR code payments for exchanging foreign currency to Thai baht. However, the cryptocurrency exchange function is currently suspended due to regulatory review and is expected to be unavailable until mid-August. The Bank of Thailand stated that the purpose of launching the Tourist ...
According to CoinDesk, Thailand has introduced a Tourist Wallet for foreign visitors, allowing QR code payments for exchanging foreign currency to Thai baht. However, the cryptocurrency exchange function is currently suspended due to regulatory review and is expected to be unavailable until mid-August.
The Bank of Thailand stated that the purpose of launching the Tourist Wallet is to address a practical issue: cross-border QR code payments are currently only available in countries including Singapore, Malaysia, and upcoming partner countries. Visitors from other countries still face inconvenience when making payments in Thailand, and the new wallet aims to solve this pain point.
Visitors can recharge the wallet in the following ways: using cash at service provider counters, linking overseas debit or credit cards, or transferring funds from overseas banks. The spending limits are as follows: up to 500,000 Thai baht (approximately $13,800) per month for merchants with card terminals, and up to 50,000 Thai baht per month for small merchants. Cash withdrawals are prohibited, and the account can only be closed through redemption.
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Link: Thailand Introduces Tourist Wallet for Foreign Visitors, Cryptocurrency Function Still in Sandbox Stage [Copy]
