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Thailand to Develop ‘Cryptourism,’ Considers Issuing Utility Token

In search of ways to heal its travel industry, hurt by the pandemic, Thailand is now recognizing an opportunity to tap into a growing market of cryptocurrency holders. Fostering a “cryptourism atmosphere” is what the country’s tourism agency intends to do, including by minting a new token and facilitating bitcoin card payments.

Tourism Board of Thailand Plans to Employ New Coin to Spur Demand From Crypto Market

Pondering how to capitalize on the expanding global crypto user base, the Tourism Authority of Thailand (TAT) has pitched the idea of issuing its own utility token dubbed TAT Coin. The Bangkok Post revealed on Wednesday that the body wants to examine relevant regulations and the viability of such a project before embarking on the initiative.

The state-run agency is now holding talks with the Stock Exchange of Thailand on the possible introduction of the token, the report details, quoting TAT governor Yuthasak Supasorn. TAT Coin would allow the transfer of travel vouchers into digital tokens that could help operators to gain greater liquidity, the newspaper added, without being a subject of speculative trading.

Another aspect that has to be clarified is whether the tourism board has the authority to issue a digital currency in the first place. In any case, Yuthasak emphasized that technology is changing the world and cryptocurrency is part of that process. In his opinion, TAT has to take the chance and enhance the competitiveness of Thailand’s tourism sector which was greatly affected by the spread of Covid-19. The official further elaborated:

We have to prepare digital infrastructure and digital literacy for our tourism operators in order to commence cryptourism as the traditional business model might not be able to keep up with the new changes.

TAT’s short-term goal is to increase income in the industry by attracting potential travelers and visitors. The long-term plan, according to the report, is to upgrade the nation’s business and leisure tourism platform in cooperation with Bitkub, a local cryptocurrency exchange.

The authority hopes to use the future TAT Coin, or a non-fungible token (NFT), to encourage demand from the cryptocurrency market and increase traffic at specific tourist spots. Bitkub CEO Jirayut Srupsrisopa has been quoted noting that the global crypto market capitalization is now four times larger than Thailand’s gross domestic product (GDP).

As part of its initiative to create a “cryptourism atmosphere,” the Tourism Authority of Thailand also considers offering bitcoin debit card services at the country’s airports. Crypto nomads, the agency says, can use these cards during their trips to make purchases without having to pay high fees at ATMs or money exchange shops. In August, Bank of Thailand announced it’s going to test its own digital currency which can potentially facilitate payments in the travel industry as well.

Do you think Thailand will become a crypto-friendly travel destination? Share your expectations in the comments section below.

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agency, Authority, Bitcoin, bitcoin card, board, cards, Crypto, crypto holders, crypto market, crypto users, Cryptocurrency, cryptocurrency market, cryptourism, Debit Card, imitative, pandemic, plan, TAT, TAT Coin, thai, thailand, Token, Tourism, travel, utility token

Image Credits: Shutterstock, Pixabay, Wiki Commons

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MEXC launches STORY (IP) launchpool & airdrop+, offering 68,500 IP & 50,000 USDT in bonuses

MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP). This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool…

MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP).

This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool and an Airdrop+ offering 8,500 IP plus 50,000 USDT—this collaboration further accelerates the growth of the STORY network while driving innovation in the blockchain space.

MEXC Supports the STORY Network with the Launch of IP Launchpool

In the digital age, traditional intellectual property (IP) management faces growing challenges. Centralized platforms and complicated intermediaries often lead to inefficiencies, high costs, and trust issues for creators. As a Layer 1 blockchain built with Cosmos SDK, STORY combines DeFi and AI technologies to offer automated, transparent, and cost-effective IP management solutions. With full EVM compatibility and a modular architecture, STORY empowers creators to tokenize their IP assets, automate royalties, and simplify licensing processes. MEXC’s support of the STORY network highlights the growing importance of such innovations in blockchain.

As a global leader in digital asset trading, MEXC consistently supports innovative blockchain projects. Its Launchpool initiative with STORY reaffirms this commitment. This collaboration not only strengthens the STORY ecosystem but also empowers global creators and developers to explore the potential of decentralized IP management. MEXC’s broad market coverage and strong liquidity offer the environment for blockchain projects like STORY to thrive and bring new possibilities to the digital economy. By allowing users to stake USDT, MX, and IP tokens to earn rewards, MEXC provides a platform for increased exposure and growth for STORY. Visit the STORY (IP) pre-market page to see this innovation in action.

Celebrate the IP Launchpool & Airdrop+ with a Prize Pool of 68,500 IP & 50,000 USDT

As a pioneer in the cryptocurrency industry, MEXC continues to foster innovation and support emerging blockchain ecosystems. MEXC is hosting two major STORY (IP) events: the Airdrop+ event, running from February 12, 2025, 10: 00 (UTC) to February 26, 2025, 10: 00 (UTC), featuring 8,500 IP plus 50,000 USDT in rewards, and the Launchpool, taking place from February 12, 2025, 10: 00 (UTC) to February 15, 2025, 10: 00 (UTC), with a 60,000 IP reward pool. These initiatives underscore MEXC’s ongoing commitment to advancing blockchain innovation and delivering valuable opportunities to the crypto community.

These activities include:

Event 1: IP Launchpool – Stake USDT, MX & IP to Share 60,000 IP
Event 2: Join Airdrop+ to Share 8,500 IP & 50,000 USDT bonus
- Perk 1: Deposit and Share 5,600 IP (New User Exclusive).
- Perk 2: Spot Challenge – Trade to Share 1,700 IP.
- Perk 3: Futures Challenge – Trade to Share 50,000 USDT in Futures Bonuses.
- Perk 4: Invite New Users and Share 1,200 IP.

MEXC continues to expand its market share in the centralized exchange space, leveraging its first-mover advantage in listing promising and valuable projects. As one of the leading cryptocurrency exchanges, with its commitment to innovation, user-centric approach, and strategic focus on early-stage token listings, MEXC remains at the forefront of the crypto industry, providing strong access to the rapidly growing blockchain ecosystem.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

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Jailed BTC-e operator Vinnik released in US-Russia prisoner swap

US to release jailed BTC-e operator Alexander Vinnik in a prisoner swap with Russia. Vinnik, arrested in 2017, is part of the exchange that saw Russia release jailed US schoolteacher Marc Fogel. Alexander Vinnik, jailed in the US after being convicted on charges of money laundering, is being released as part of a prisoner swap.…

US to release jailed BTC-e operator Alexander Vinnik in a prisoner swap with Russia.
Vinnik, arrested in 2017, is part of the exchange that saw Russia release jailed US schoolteacher Marc Fogel.

Alexander Vinnik, jailed in the US after being convicted on charges of money laundering, is being released as part of a prisoner swap.

The former operator of the Russian crypto exchange BTC-e will head to Russia after the Kremlin reportedly agreed to an exchange involving US national Marc Fogel.

According to the BBC, the White House confirmed the prisoner exchange,with Trump having spoken to Fogel.The schoolteacher left Russia on Tuesday, Feb. 11.

Who is Vinnik?

Alexander Vinnik, 44, is a crypto kingpin that operated the Bitcoin exchange BTC-e. Authorities arrested Vinnik in 2017 in Greece, with the Department of Justice filing charges of money laundering involving nearly $4 billion.

According to prosecutors, Vinnik allowed cyber criminals to use BTC-e to launder and store proceeds of crimes, including crypto hacks, ransomware attacks and identity theft.

The Russian national’s reign at the helm of the exchange saw him promote the platform to perpetrators of these crimes. US authorities blamed him for the loss of $121 million.

Notably, New Zealand police also seized $90 million from the BTC-e operator.

Vinnik’s guilty plea in May 2024 meant he faced up to 20 years in prison.

The prisoner swap that sees him leave custody comes after his lawyers failed in a previous attempt to have included in other US-Russia prisoner exchanges. One such push involved the deal that saw Evan Gershkovich, a Wall Street Journal reporter formerly imprisoned in Russia, released.