BoT pauses new money changers, seeks baht coin views
Anyone who wants to open a money changer must apply by 30 December 2026 or wait until 2028, and anyone with a view on a digital coin worth 1 baht can still send it until 17 November.
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If you have been thinking of opening a money changer, or of adding currency exchange for foreign customers to your business, you may keep putting it off until next month. But next year the door closes. The Bank of Thailand (BoT) will accept no new money changer applications throughout 2027, and anyone who wants to apply under the current rules has one month, from 1 to 30 December 2026. A second matter the BoT has opened to the public at the same time is the THB stablecoin, a digital coin that is always worth 1 baht, and its hearing closes on 17 November, eight days from now.
The money changer news comes from Pimpan Charoenkwan, the BoT's assistant governor for financial markets, who spoke on 5 November, THE STANDARD reported. The bank will raise standards to match each business's risk, so that money changers are not used to support illegal activity, and will start with the shops that exist now, which is why it must pause new ones in 2027. On the baht coin, the BoT has been taking views since 19 October, a hearing first set at ten days and then extended to thirty.
Anyone who wants to open a money changer must apply by 30 December
People who want to start in 2027 can apply from 1 to 30 December 2026 under the current rules, at the BoT head office or a regional office. Documents must be complete as set out in the BoT's guide, which sits on the authorised money changer page of the BoT website. That page still describes the old quarterly application rounds, so ask the BoT for the latest steps before you apply, because December is the last window before the pause.
If you miss it, you wait until 2028, when the BoT will take applications under the new rules twice a year, in March and September, and says it will publish the details of those rules by December 2026. Nobody yet knows how strict they will be, whether registered capital must rise, or what systems will be needed, because they are unpublished. Anyone thinking of entering the market therefore has two choices: apply in December on rules they know, or wait for new rules they cannot yet see.
Travellers and people changing money do not need to do anything extra yet
The announcement did not mention exchange rates, fees or closing existing shops, and nothing says current shops must stop trading. What changes is that new shops cannot enter in 2027, while existing ones must meet the standards the bank will issue. People changing money can carry on as usual, but should use a genuinely licensed shop. The BoT lists the names and locations of authorised money changers on the same page, and its BOT License Check tool lets you verify the licence of a business it supervises. A shop that is not on the list is not one to use for a large sum.
What a baht coin is, and what it is not
A THB stablecoin is a digital coin pegged 1 to 1 to the baht and fully backed by reserve assets, according to the BoT's hearing page. Put simply, one coin is worth 1 baht, and the issuer must hold reserves behind every coin it puts out. The outline that The Thaiger summarised has issuers keeping bank deposits equal to all the coins in circulation, holders able to swap coins back to baht within one business day, and no interest paid by the issuer.
Because the price is tied to 1 baht and there is no interest, the coin has no room for speculation like ordinary crypto, whose prices move every day. The BoT sees it as an addition to existing payment systems such as PromptPay, not a replacement. Wallet providers, the firms that hold the coins for users, must verify every user's identity, and issuers will be limited in number at first, while wallet providers can apply for licences in rounds with no cap. This is still only a set of principles out for comment, and no coin has been approved for real use.
Send your views to the BoT by 17 November
Anyone who wants to comment, such as a business that makes cross-border payments, a shop that takes payments, or an ordinary person wondering how the coin might affect the money in their wallet, has three ways to do it. The first is the button to share an opinion on the BoT's hearing page. The second is email to FinTechDept@bot.or.th. The third is a call to the bank's financial technology policy office on 0-2356-7068, 0-2283-6848 or 0-2356-7729. Thansettakij also says views can go through the central legal system website.
Comments have no legal effect, but the BoT will use them when it issues the rules, and it keeps senders' personal data confidential. The full draft rules are due in March 2027, with another hearing once the draft is ready. In short, anyone who wants to be heard by the BoT should send views by 17 November, and anyone who wants to open a money changer should mark 30 December.
FAQ
Until when can a new money changer apply?
Applications under the current rules are open from 1 to 30 December 2026. After that no new applications are taken throughout 2027, and they open again in 2028 under new rules, twice a year, in March and September.
What should I watch for if I change money now?
The BoT's announcement does not say that existing shops must close. Change money at an authorised shop, whose name you can check on the BoT website or in BOT License Check.
Can I buy a THB stablecoin to speculate?
The coin is pegged to 1 baht and the issuer pays no interest, as The Thaiger reported, so there is no price difference to speculate on. It is also still draft principles, and no coin has been approved. This story is not investment advice.
Where can I send views on the THB stablecoin?
Until 17 November 2026, through the button to share an opinion on the BoT's hearing page, or by email to FinTechDept@bot.or.th.
Sources
- Bank of Thailand: Public hearing on principles for supervising THB Stablecoin businesses
- Bank of Thailand: Authorized Money Changer
- THE STANDARD: BoT to raise standards and tidy up money changers to curb grey money
- The Thaiger: Bank of Thailand sets baht stablecoin rules for 2027, pauses money changer licences
- Thansettakij: BoT opens hearing on THB Stablecoin rules
