KASIKORNBANK (KBank) has unveiled “Q Wallet,” a groundbreaking digital payment solution built on blockchain technology designed to transform the travel experience for foreign tourists in Thailand. The wallet, currently in a regulatory sandbox, enables international visitors to make seamless, borderless payments at local businesses without needing a Thai bank account.
Dr.Karin Boonlertvanich, Executive Vice President of KBank, announced the pilot program, explaining that the Q Wallet allows tourists to convert a digital asset, USDC, into THBS (a programmable payment unit) for real-time transactions. The THBS, an electronic currency with a value pegged to Thai Baht deposits, can then be used to pay at over 100 participating merchants via the widely used Thai QR Payment system.
“The launch of Q Wallet marks another milestone for KBank in elevating Thailand’s financial services to the global level,” said Dr. Boonlertvanich. “It serves as a crucial component in developing modern financial infrastructure to accommodate tourists from around the world.”
The Q Wallet pilot, which runs until December 31, 2025, offers a hassle-free experience with no transaction fees and transparent records. This innovation is not only a boon for tourists but also an opportunity for Thai businesses to tap into a new market of digital-first consumers, strengthening the country’s digital economy and solidifying its reputation as a true digital destination.
Crypto Tourism as a gateway: Thailand’s bold move toward financial innovation
Thai AI adoption soars, but ethical concerns mount
