Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the recent news of Thailand accepting crypto as a form of payments.
WORPT
A new app has launched in Thailand allowing tourists to convert dollar-pegged stablecoins into the local currency, baht. The app, called WORPT, will allow tourists to pay by scanning barcodes used by local shops and restaurants without needing to open a Thai bank account.
The app has been developed by e-money provider Wipay and Waan Exchange. This is a digital asset exchange which was founded by Chaval Jiaravanon, a member of Thailand's billionaire Chearavanont family. Thailand, which is a major tourist destination, is reporting a fall in foreigners visiting their shores.
WORPT lets foreign visitors have another means of payment, which can be a huge benefit for many of the higher-spending visitors. The Thai government is beginning to focus on attracting more of these higher-spending visitors and this could be another incentive to visit the land of smiles.
The app will connect with the existing QR payment network in Thailand, and a similar system of crypto-funded payment services for foreign visitors were introduced in both Bhutan and Brazil back in 2025.
Tourists will be required to verify their identity with both the exchange and the e-money provider and a important rule is that any converted baht can only go into an e-wallet in their own name.
It is good news for tourists as they can deposit their crypto, covert it to Thai Baht, and spend at the merchants QR codes. The rollout is ambitious and they are aiming to attract 200,000 users during its first year. The company has projected around 15 billion baht, or $440 million, in spending during the first 18 month trial of the system.
https://x.com/WatcherGuru/status/2121128217386123568
Have a great day.
Peace. CryptoGod-1.
