Thailand Launches TouristDigiPay for Crypto Payments via QR Codes
Thailand on Aug. 18 launches TouristDigiPay, enabling foreign visitors to convert cryptocurrency into Thai Baht for crypto payments via QR codes. Under the sandbox program, tourists register with licensed digital asset firms and e-money providers, complete KYC/AML checks, and face spending limits and a ban on direct cash withdrawals. Japan’s FSA will approve JPYC’s yen-pegged stablecoin this autumn under revised regulations, aiming to expand regulated options beyond the $250 billion U.S. dollar–stablecoin market for remittances and digital payments. Meanwhile, Coinbase Smart Wallet surpassed 1.07 million accounts following a surge in Base app sign-ups—270 000 new wallets on August 16 alone, nearly 26 percent of all accounts—highlighting growing adoption of self-custodial solutions. These developments indicate rising institutional and retail engagement in crypto payments and stablecoins, supporting broader market growth and infrastructure readiness.
Bullish
The launch of TouristDigiPay offers a practical on-ramp for crypto use in tourism, boosting transactional demand. Japan’s regulatory approval of a yen-pegged stablecoin signals enhanced institutional support and clarity, reducing investor uncertainty. Coinbase Smart Wallet’s rapid growth underscores rising retail adoption of self-custodial solutions, expanding the user base. Historically, regulatory endorsements and wallet adoption milestones often preceded bullish market phases. In the short term, trading volumes may rise due to heightened interest in token conversions and stablecoins. Long term, strengthened infrastructure and broadened use cases should support sustained price appreciation and greater market stability.