Thai G-Tokens: Retail To Get Slice of Government Bonds on Blockchain

• Thailand plans crypto-linked card payments for tourists using baht-settled transactions.
• Capital market laws to unify digital and traditional asset regulations under one framework.
• “G-Tokens” to let retail investors buy fractional Thai government bonds via blockchain.

Thailand is preparing to allow tourists to spend cryptocurrencies through innovative card-linked payment systems, a move aimed at modernizing its financial infrastructure and enhancing the utility of digital assets. 

Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the proposal during an investment seminar held in Bangkok, citing the effort as part of broader financial reforms under government review.

Under this plan, tourists can link their crypto holdings to credit cards for making purchases at local merchants. Businesses in Thailand will continue to receive their payments in Thai baht, even though the underlying transactions might be settled using cryptocurrency. According to Minister Pichai, this approach is designed to limit the direct circulation of foreign digital assets as local currency. 

Currently, Thailand’s Ministry of Finance and the Bank of Thailand are working through the necessary guidelines and infrastructure to support this crypto payment initiative. A full rollout is anticipated once all regulatory and technical aspects are confirmed ready. Officials also highlighted that this model won’t require local merchants to directly handle digital assets or alter their existing point-of-sale processes.

Thailand Pushes Broader Financial Reforms

Alongside the crypto initiative, Pichai confirmed that Thailand is pursuing a revision of its capital market regulations. Current rules separate the oversight of digital assets and traditional securities, governed by different legislative acts. The government intends to unify these rules to create a consistent legal structure across all financial instruments.

Pichai also stated that the government is reviewing rules that limit institutional investors, such as life insurance companies and pension funds, from investing primarily in government bonds. Additionally, the Finance Minister announced the upcoming launch of blockchain-based “G-Tokens,” which will offer retail investors fractional access to government bonds.

The tokens are intended to increase market accessibility and support more diversified participation in sovereign debt instruments. The initiative follows earlier regulatory developments that approved the use of stablecoins like USDT and USDC for crypto-related trading activities in Thailand.