TrueMoney, the fintech arm of Thailand’s Ascend Group, is deepening its blockchain payments trial with digital-asset infrastructure firm Fireblocks under a Bank of Thailand regulatory sandbox. The second phase will let up to 20,000 Thai and international participants exchange a baht-referenced digital token for six supported digital assets through the end of 2026.
Key Facts At A Glance
- TrueMoney is the fintech arm of Thailand’s Ascend Group
- Fireblocks is a digital-asset infrastructure provider partnering on the pilot
- The project is called Thai Baht TrueMoney, or THBT
- THBT is tested under the Bank of Thailand’s Enhanced Regulatory Sandbox
- Phase two embeds Fireblocks’ wallet technology directly into the TrueMoney app
- The expanded pilot allows up to 20,000 Thai and international participants
- Participants can exchange THBT for six supported digital assets
- The pilot runs through December 31, 2026
- Users can also convert THBT into Thai baht for use within TrueMoney’s ecosystem
Thailand’s TrueMoney is expanding a blockchain-based payments pilot in partnership with digital-asset infrastructure provider Fireblocks, moving the project into a second phase aimed at everyday consumer use of tokenized value. The initiative centers on Thai Baht TrueMoney, or THBT, a baht-referenced digital value unit currently being tested under the Bank of Thailand’s Enhanced Regulatory Sandbox.
Expanded Access And Technical Integration
The companies said the second phase will embed Fireblocks’ wallet infrastructure directly into the TrueMoney app, allowing users to create and manage digital wallets without directly handling private keys. This design choice is intended to lower the technical barrier for mainstream users who are unfamiliar with self-custody of digital assets.
Under the expanded pilot, up to 20,000 Thai and international participants, including tourists and expatriates, will be able to take part through December 31, 2026. Participants can exchange THBT for six supported digital assets and use the token to purchase digital coupons through a dedicated storefront, THBTStore.
Cross-Border Use Case
A notable feature of the expanded trial is its accommodation of international users. Tourists and expatriates will be able to exchange supported digital assets for THBT and then convert those tokens into Thai baht for transactions within TrueMoney’s existing payments ecosystem. This positions the pilot as a potential bridge between international digital-asset holdings and everyday retail spending in Thailand.
The trial’s placement within the Bank of Thailand’s regulatory sandbox indicates that any wider rollout beyond the pilot phase would require additional central bank review and approval.