Thailand has launched WORPT, a cryptocurrency payment app that allows foreign visitors to convert stablecoins and other digital assets into Thai baht and pay at shops, restaurants, hotels and retailers by scanning Thailand’s QR payment codes. Developed by Wipay and Waan Exchange, with support from Tether, WORPT operates under the TouristDigiPay Regulatory Sandbox overseen by the Securities and Exchange Commission. Waan Exchange received approval to participate from Thailand’s Securities and Exchange Commission on Sept. 25. The service supports assets including USDT and USDC, charges an initial 1.5% conversion fee and removes the need for tourists to open Thai bank accounts. About 150,000 active users are projected during the 18-month trial, while Wipay has also estimated 200,000 users and 15 billion baht, or roughly $440 million, in spending. The company is targeting visitors from South Korea, Japan, the Middle East and Southeast Asia as Thailand faces a second consecutive annual decline in foreign arrivals and weaker international tourism revenue. The Mall Group is an early retail partner, while Visa prepaid cards are planned for November and virtual cards for early 2027.