Thailand has announced the rollout date for its $14 billion digital currency giveaway, set to begin in Q4. This initiative aims to boost the economy and tackle high household debt by distributing ฿10,000 baht (around $280) to most adult citizens.
Eligible citizens aged 16 and older with a certain income threshold can sign up for the digital wallet via the “Tang Rath” app from Aug. 1 to Sept. 15. Originally planned for early 2024, this program is a key part of Prime Minister Srettha Thavisin’s growth strategy and has faced delays due to funding issues.
With an expected participation rate of 90%, the program aims to reach over 50 million people, costing around ฿450 billion. The government has allocated ฿165 billion for the current fiscal year and ฿285 billion for the next to support this initiative.
This digital currency giveaway is a significant step in leveraging blockchain technology for economic revitalization. It underscores Thailand’s strategic effort to stimulate purchasing power and economic activity in the long term.
