Bitkub CEO Urges TAT Coin Approval as Thailand Looks to Grow GDP Through Crypto Tourism
Thailand’s tourism agency is planning to launch a digital token to make the most of the growing interest from the sector in cryptocurrencies. The Tourism Authority of Thailand (TAT) has been considering launching its own utility token called TAT Coin for several months now as part of a planned “crypto tourism” campaign. – a campaign is expected to run in tandem with traditional marketing to attract nano entrepreneurs. TAT has discussed with the Stock Exchange of Thailand about the issuance of TAT Coin and is currently waiting for the Thai government to give the green light.
According to a report by Bangkok Post Office, Topp Jirayut Srupsrisopa, CEO of homegrown crypto exchange platform Bitkub, addressed a meeting earlier this month where he called on the government to give the green light to TAT Coin. Srupsrisopa revealed that the domestic private crypto industry is ready to provide TAT Coin with the necessary support. However, he said that for that to happen, the government must establish the necessary policies to promote access to the cryptocurrency market.
He went on to state that he expects Thailand’s GDP to increase by more than 600 percent if the government allows it electronic money marketing the support it needs.
Thailand is one of the most visited countries globally, its tourism industry accounting for nearly 20% of total GDP, in a pre-pandemic world. Furthermore, many people prefer to live there and work remotely due to the tropical climate, sandy beaches and relatively low cost of living. According to Srupsrisopa, crypto holders can transform the Thai economy if they settle in the country.
Yuthasak Supasorn, Governor of the Tourism Authority of Thailand, told the Bangkok Post in September that the TAT discussed the coin with the country’s Securities and Exchange Commission, the capital markets watchdog.
“We must prepare the digital infrastructure and digital literacy for our travel operators to initiate crypto tourism, as the traditional business model may not keep up with the new changes,” Yuthasak told the local newspaper at the time.
While the TAT Coin appeared during the launch, the country’s public sector did not seem very pleased with the development. According to a The report by CoinTelegraph from July 2021, the Central Bank of Thailand (BOT) has warned against using digital currencies to pay for goods and services in the country.