Financial regulators in Thailand are mulling to let foreign tourists exchange cryptocurrency in exchange of Thai Baht to make purchases across the country, in a move to enhance its tourism sector.
In a recently proposed initiative, the country announced intentions of launching a crypto sandbox for its tourists, who can convert their Bitcoin into real money and purchase goods and services.
While the move is aimed at wooing more tourists, Thailand is not the only country that accepts crypto payments. Here are six others.
El Salvador
El Salvador was the first country to accept Bitcoin as legal tender in 2021, allowing both citizens and tourists to use the cryptocurrency for everyday transactions, such as shopping, food and travel. However, the country agreed to roll back some aspects of Bitcoin usage following intervention from the International Monetary Fund (IMF).
Malta
One of Europe’s most crypto-forward nations, Malta is often called the “Blockchain Island”. Retailers and restaurants across the country began accepting Bitcoin as early as 2016. Tourists can also use their digital assets to book flights and accommodations in Malta.
Malta’s Virtual Financial Assets Act (VFAA), which was introduced in 2018, streamlines licensing for crypto companies.
UAE
The United Arab Emirates, especially Dubai, has witnessed a rapid growth of cryptocurrency adoption across sectors, including retail, real estate, and hospitality.
Top developers like DAMAC and Emaar accept Bitcoin and Ether payments to purchase properties. Expanding the opportunity, Emirates Airlines earlier this month signed an MoU with Crypto.com to accept crypto payments for booking flights. The airlines will, by 2026, accept Bitcoin, Ethereum, and other digital currencies for flight bookings and in-flight services.
Portugal
Portugal, another crypto-friendly nation in Europe, encourages the adoption of cryptocurrencies via tax policies and relaxed regulations. While it is not yet legal tender in the country, many businesses accept Bitcoin payments.
Japan
Japan recognised Bitcoin as a legal payment method as early as 2017, becoming one of the first countries to do so. While most transactions in Japan are cash-reliant, some retailers, electronics stores, as well as travel agencies now accept Bitcoin for tourists and residents.
USA
With US President Donald Trump’s crypto push, the United States is adopting digital assets more than ever, though it is not yet a uniform system. However, tourists can leverage digital assets while travelling within the country.
