India, Nov. 13 -- A new payment application in Thailand now allows foreign visitors to convert cryptocurrency into Thai baht for everyday purchases, as the country seeks to revive tourism spending.

The platform, named WORPT, enables travellers to exchange digital assets into local currency and pay at shops and restaurants by scanning standard Thai payment barcodes. Visitors can use the service without opening a local Thai bank account.

WORPT was developed by Wipay Co and Waan Exchange Co, founded by Chaval Jiaravanon of Thailand's Chearavanont family. The service operates under TouristDigiPay, an 18-month regulatory pilot overseen by Thailand's Securities and Exchange Commission. Comparable crypto-based payment systems for international...