Market

Thailand’s tourism authority wants to issue a utility token to lure crypto holders into the country

The Tourism Authority of Thailand (TAT) is looking into the possibility of creating your own utility token to increase visitor crypto revenue.

International tourists visit Koh Phi Phi Leh island, Phuket

TAT is reportedly in talks with the Thailand Stock Exchange to launch the TAT coin and is weighing the legal and feasibility aspects of such a project, the report said. Bangkok Post News today.

TAT director Yuthasak Supasorn said Thailand needed to prepare digital infrastructure as well as digital literacy for tourism companies related to cryptocurrencies.

“Traditional business models may not be able to keep up with new changes,” he said.

If developed, the utility of the token could make it easier to convert bills into TAT coins and increase the liquidity of tour operators. It could also signal to the rest of the crypto world that Thailand’s tourism sector is back to work as the country grapples with Covid-19.

According to Reuters, Thailand will lift mandatory quarantine in Bangkok and nine regions from November 1 for those who have received two doses of the vaccine.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

La Bo

According to Coindesk

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

“Traditional business models may not be able to keep up with new changes,” he said. If developed, the utility of the token could make it easier to convert bills into TAT coins and increase the liquidity of tour operators. It could also signal to the rest of the crypto world that Thailand’s tourism sector is back to work as the country grapples with Covid-19.

According to Reuters, Thailand will lift mandatory quarantine in Bangkok and nine regions from November 1 for those who have received two doses of the vaccine.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.