Crypto News
Thailand has launched WORPT, a payment app that lets foreign tourists convert crypto, including USDT and USDC stablecoins, into Thai baht and spend it nationwide via the country's QR PromptPay network. Built by Wipay and Waan Exchange with support from Tether, the service operates under the TouristDigiPay regulatory sandbox overseen by the Thai SEC. Merchants receive baht through their existing payment channels, and visitors need no Thai bank account, only in-app identity verification linked to an external crypto wallet. Wipay targets roughly 200,000 users in year one and about 15 billion baht, worth $440 million, in spending across the 18-month trial.
Why it matters
This is one of the clearest cases of a national payments system opening directly to crypto-funded spending. WORPT rides on PromptPay, the QR rail used by shops, restaurants, and hotels across Thailand, so merchants accept crypto-driven purchases without touching digital assets themselves. The TouristDigiPay sandbox gives it regulatory cover, and The Mall Group's early adoption puts the service inside a major department store network from day one.
The rollout arrives as Thailand's foreign arrivals head toward a second consecutive annual decline and tourism revenue weakens. Officials are betting that crypto holders, increasingly common users of stablecoins for moving money internationally, become a high-spending visitor segment rather than a niche.
Market impact
WORPT charges a 1.5% conversion fee and plans Visa prepaid cards, with physical cards due in November and virtual cards in early 2027. Target markets include South Korea, Japan, the Middle East, and Southeast Asia, regions with large populations of travelers who already hold digital assets. If the trial hits its $440 million spending mark, expect other tourism-dependent economies to consider similar sandbox models.
The service also addresses a trust problem. Thailand has seen scams involving fraudulent crypto OTC brokers and fake exchanges, and a regulated app with SEC oversight removes much of that friction for visitors who previously had to hunt for legitimate conversion channels.
Frequently asked questions
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What is Thailand's WORPT crypto payment app?
WORPT is a payment app built by Wipay and Waan Exchange with Tether support that lets foreign tourists convert crypto, including USDT and USDC, into Thai baht and spend it via the national QR PromptPay network without a Thai bank account.
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Is WORPT regulated?
Yes. The service operates under Thailand's TouristDigiPay regulatory sandbox, which is overseen by the Thai Securities and Exchange Commission, giving it a formal regulatory framework for crypto-to-baht tourist payments.
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How much spending does Thailand expect from crypto tourists?
Wipay projects roughly 200,000 users in WORPT's first year and about 15 billion baht, worth $440 million, in spending across the initiative's 18-month trial, targeting travelers from South Korea, Japan, the Middle East, and Southeast Asia.
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Do merchants in Thailand have to handle cryptocurrency?
No. Restaurants, hotels, and retailers receive Thai baht through their existing payment channels, so businesses keep accepting QR PromptPay payments exactly as before while the app handles the crypto conversion.
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What does WORPT cost and what is coming next?
WORPT initially charges a 1.5% conversion fee. Visa prepaid card services are also planned, with physical cards expected in November and virtual cards in early 2027, alongside The Mall Group as the first department store partner.
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