The post Thailand To Launch Bitcoin Payment Pilot Program In Phuket In 2025 appeared first on Coinpedia Fintech News
In a latest development, Thailand is all set to launch a pilot program in Phuket in 2025, enabling tourists to use Bitcoin for transactions and streamlining digital payments. It aims to trial cryptocurrency payments in Phuket, one of its most popular tourist destinations, by offering foreign visitors an alternative payment option.
This initiative was announced by the Deputy Prime Minister and Finance Minister Pichai Chunhavajira on Jan. 8 at a seminar organized by the Marketing Association of Thailand, according to Nation Thailand.
He announced that the experiment would begin in Phuket this year as a pilot project, emphasising that it would be conducted within existing legal frameworks.
“We won’t do anything that is illegal,” Pichai reassured.
He clarified that no changes to existing laws are needed for the new initiative, as the government already has the necessary mechanisms in place. He highlighted that a trial in Phuket would help Thailand stay competitive and ensure that it does not lose out on business opportunities.
Pichai explained that the project was driven by the growing popularity of cryptocurrencies among foreign tourists and their rising value. He also noted that Bitcoin, with its limited supply of 21 million coins, is valued over $2 trillion and in high demand.