Thailand Brings In Utility Token To Further Adopt Crypto

By Mark L - Cryptocurrency expert - 29-09-2021

Buying crypto assets is a topic and investment option that tends to bring up mixed emotions. Many nations have become strict towards cryptocurrency trading platforms by continuously enhancing and strengthening rules and regulations. However, some countries are much more open to the opportunities of crypto. One example is Thailand who seems to be interested in investing in cryptocurrency and adopting it.

In recent announcements, the Tourism Authority of Thailand (TAT) has plans to create a utility token to further dive into the crypto market. Reportedly, the utility token will be designed to profit off of Thailand's tourists. To establish Thailand's new tourist utility token, TAT plans to partner with the Thai Stock Exchange and is currently in talks of building the TAT coin. According to the TAT, the coin will allow users to use their holiday vouchers through the utility token. Digitalising the tourists' vouchers will significantly enhance liquidity among the country's tourist businesses. Aside from boosting the local economy, once the TAT coin has been created and launched, it will signal to tourists worldwide that Thai holidays will be officially back on the map and ready for visitors.

The Governor of the TAT, Yuthasak Supasorn is reportedly working on launching the token and is currently in talks with the country's authorities to issue the crypto asset. He stated that original and conventional businesses within Thailand have become dated and need to find new ways to stay relevant. The world is becoming more digitally focused, less people are using cash and looking into new ways on how to make the most out of their money. Especially since the Covid-19 pandemic, more people have become money-focused and are beginning to learn more about the financial market. 

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