Bank of Thailand Governor Vitai Ratanakorn announced on October 29, 2026, in Bangkok that the central bank will introduce five financial measures between November 2026 and March 2027. The package includes a licensing framework for Buy Now, Pay Later (BNPL) services and rules for baht-linked stablecoins, bringing two fast-growing areas of digital finance under formal oversight.
Key Facts At A Glance
- The Bank of Thailand plans five measures between November 2026 and March 2027.
- Controls on cash gold transactions above THB 10 million are expected in November 2026.
- A BNPL licensing framework is expected in December 2026, with a proposed THB 20,000 credit limit, a six-month maximum repayment period and a 15% interest rate ceiling.
- Seven operators were initially expected to apply for BNPL licences.
- Lower credit bureau checking fees are expected in December 2026, and higher standards for money changers in January 2027.
- Rules governing baht-linked stablecoins are expected in March 2027.
- The central bank plans to launch an SMEs Credit Portal in January 2027.
- The 1% policy rate was described as appropriate, with room for review.
The Bank of Thailand has set out a schedule of five regulatory measures covering digital credit, stablecoins, gold trading and other financial services. Governor Vitai Ratanakorn presented the plan at the central bank’s GovernorConnect event, titled “A Year in Review, Moving Forward,” on October 29, 2026.
He said the measures are part of a broader effort to support Thailand’s slow economic recovery and address long-standing structural problems.
BNPL Moves Under A Licensing Regime
The most significant measure for consumer fintech is the planned BNPL licensing framework, expected in December 2026. The proposed rules would cover credit used to buy goods and services through digital platforms. They set a credit limit of THB 20,000, a maximum repayment period of six months and an interest rate ceiling of 15%.
Seven operators were initially expected to apply for the new licences. The central bank did not name them.
A separate measure to reduce credit bureau checking fees is also expected in December 2026. Rules to raise standards in the money-changing business are scheduled for January 2027.
Baht Stablecoin Rules Targeted For March 2027
Rules governing baht-linked stablecoins are expected in March 2027, the last of the five measures. Vitai said in June 2026 that the central bank’s study on baht stablecoin design was in its final stage and that a public hearing would follow.
The October announcement sets the first specific month for the rules. The central bank did not publish further detail on the stablecoin framework alongside the timeline.
Cash Gold Transactions And Wider Oversight
Controls on gold purchases and sales made in cash and worth more than THB 10 million are expected to be announced in November 2026. They follow earlier measures targeting large cash flows. These include tighter checks on cash transactions of THB 5 million or more and reporting requirements for physical gold withdrawals above two kilograms per day.
The central bank reported that the value of cash withdrawals has fallen by more than 57% compared with January 2026. Physical gold withdrawals declined by more than 85% after the reporting requirements took effect.
The Bank of Thailand also plans tighter supervision of all non-bank financial businesses in 2027, including lenders, payment service providers, foreign exchange businesses and asset management companies. Vitai linked this to the sector’s growing size, more complex business models and substantial lending growth, with fair treatment of customers as the central objective.
Household Debt And SME Credit Remain Priorities
The central bank named three priorities for 2027: reducing household debt, improving SME access to credit while encouraging competition, and broadening non-bank supervision. Its SMEs Credit Portal, which will connect small and medium-sized enterprises with lenders, is scheduled to launch in January 2027.
The new plan follows 18 measures introduced over the past year on household debt, SME financing, consumer protection and illicit financial activity. They include:
- fee cuts across 19 financial services, which the central bank said could save consumers and businesses up to THB 8 billion a year
- a debt relief programme with Sukhumvit Asset Management covering more than 182,000 non-performing loan accounts, against a target of 200,000
- the SMEs Credit Boost programme, which has facilitated more than THB 80 billion in lending
Vitai said risks to economic stability remain manageable but warned that persistently weak growth could reduce household income, weaken repayment capacity and raise non-performing loans. “The Bank of Thailand’s role is not to stimulate the economy,” he said, adding that this is the government’s responsibility.
He described the 1% policy rate as appropriate for an economy that is recovering slowly with relatively low inflation. The central bank would reassess its stance if the recovery led to overheating, or if inflation did not decline as expected around mid-2027.
