Thailand Relaxes Cryptocurrency Spending Rules for Tourists, Allowing Direct Crypto Payments

Odaily reports: Thailand has launched a cryptocurrency payment app called WORPT, allowing foreign tourists to convert cryptocurrency into Thai baht and spend it at shops and restaurants by scanning payment QR codes widely used by local merchants, without needing to open a Thai bank account. WORPT is primarily aimed at cryptocurrency holders from South Korea, Japan, the Middle East, and Southeast Asia, and plans to reach 15 billion baht (approximately $440 million) in spending volume during an 18-month pilot period. The project launch comes as Thailand faces a second consecutive year of declining foreign tourist arrivals and falling international tourism revenue. (Bloomberg)