Thailand has announced the rollout date for its long-awaited digital currency giveaway, aimed at boosting economic activity and addressing high household debt. Finance Minister Pichai Chunhavajira revealed that the distribution of ฿10,000 (around $280) to most adult citizens will commence in Q4. Eligible citizens aged 16 and older, under a specific income threshold, can sign up via the "Tang Rath" application from August 1 to September 15, intended to enhance purchasing power and stimulate the economy.

Originally slated for early 2024, this initiative is part of Prime Minister Srettha Thavisin’s plan to spur growth, though delayed by funding issues. Recently, lawmakers approved an additional ฿122 billion for the current fiscal year to support the program.

The government expects the initiative to reach over 50 million people, with an estimated cost of ฿500 billion (around $14 billion), though with a likely participation rate of 90%, the cost may be closer to ฿450 billion. The funding will come from the state budget over two years, with ฿165 billion allocated for the current fiscal year and ฿285 billion for the next. Despite being a key election promise, this digital currency distribution has yet to take place since Thavisin's election in August 2023.