Thailand is set to launch a pilot program in Phuket in 2025, enabling tourists to use Bitcoin for transactions and streamlining digital payments.

Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the initiative on January 8, emphasizing that it will operate within Thailand’s existing legal framework without requiring amendments. The program aims to integrate digital currency into everyday transactions, allowing tourists to register Bitcoin through a Thai exchange and verify their identities before making purchases.

The government assures that the pilot will comply with current laws, aiming to make digital transactions more accessible in tourism-focused cities and enhance Thailand’s competitiveness in the global market. A clearinghouse will convert Bitcoin transactions into Thai baht, facilitating seamless payments for foreign tourists.

This initiative follows former Prime Minister Thaksin Shinawatra’s call for Thailand to study cryptocurrencies and engage in sandbox experimentation to remain relevant amid global digitization trends. The pilot program reflects Thailand’s proactive approach to embracing digital assets and modernizing its financial ecosystem.

Ripple’s president, Monica Long, has announced that the company’s stablecoin, Ripple USD (RLUSD), is set to be listed on additional cryptocurrency exchanges imminently. In a recent interview, Long emphasized Ripple’s commitment to expanding RLUSD’s availability, stating, “We are continuing to expand distribution and availability of Ripple dollars on other exchanges. So I think you can expect to see more availability, more announcements coming soon… imminently.”

Currently, RLUSD is accessible on platforms including Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, B2C2, Keyrock, Archax, Independent Reserve, and JST Digital. Since its launch on December 17, RLUSD has achieved a market capitalization of approximately $71.8 million. The majority of its trading volume is concentrated on the Bullish exchange, particularly in trading pairs with USD Coin (USDC) and XRP.

The demand for RLUSD is largely driven by Ripple’s expanding payments business, which reportedly doubled in the past year. Long anticipates significant growth in the stablecoin market, viewing RLUSD as a pivotal component in facilitating seamless on-ramps and off-ramps for cryptocurrency transactions.

In addition to broadening RLUSD’s exchange presence, Ripple has partnered with Chainlink to integrate price feeds for RLUSD on Ethereum and the XRP Ledger. This collaboration aims to provide accurate pricing data, support decentralized finance applications, and mitigate risks such as price manipulation or downtime.

Bhutan’s Gelephu Mindfulness City (GMC), a Special Administrative Region, has announced plans to incorporate major cryptocurrencies—Bitcoin (BTC), Ether (ETH), and BNB—into its strategic reserves. This initiative aims to enhance economic resilience and capitalize on opportunities arising from Bitcoin mining activities.

Unlike other jurisdictions focusing solely on Bitcoin, GMC intends to diversify its reserves by including multiple established digital assets. The administration emphasizes selecting cryptocurrencies with large market capitalizations and deep liquidity to ensure ease of transactions with minimal price impact.

This development follows Bhutan’s issuance of a $100 million bond in November 2024 to fund the GMC project, envisioned as an economic corridor linking South Asia to Southeast Asia. The project is set to be completed over 21 years, reflecting the nation’s commitment to integrating digital assets into its economic framework.

Notably, Bhutan’s government, through Druk Holding and Investments (DHI), already holds significant cryptocurrency assets, including approximately 11,688 BTC and 656 ETH. DHI has been involved in Bitcoin investments since at least 2019, leveraging local mining operations and collaborations with major crypto mining firms like Bitdeer.