TrueMoney has expanded the second phase of its Thai Baht TrueMoney (THBT) pilot by adding digital asset wallets powered by Fireblocks, an enterprise digital asset infrastructure provider, extending the project's focus on programmable, blockchain-based payments in Thailand.

The initiative is being conducted under the Bank of Thailand's Enhanced Regulatory Sandbox, where THBT is being used as a digital unit linked to the Thai baht. The pilot is designed to examine how blockchain technology can support payment functions while operating within a regulated testing environment. Regulatory sandboxes allow financial innovations to be tested with real users under a regulator's supervision before any wider deployment.

The addition of Fireblocks-powered wallets allows THBT participants to create and manage digital asset wallets directly through the TrueMoney app, bringing blockchain-based payment functionality into an existing consumer financial platform. The expansion brings together TrueMoney, Fireblocks, and Ascend Bit, with the latter operating the relevant digital asset services under the Digital Asset Regulatory Sandbox overseen by Thailand's Securities and Exchange Commission. The structure puts the project under two regulatory tracks at once — payment functions under the Bank of Thailand's sandbox and digital asset services under the SEC's — so both layers of the service are tested side by side under supervision. During the trial, the TrueMoney app serves as the primary access point for both payments and digital asset wallet services.

Wallet Infrastructure Simplifies Digital Asset Access

A key focus of the expansion is simplifying how users hold and recover digital assets. The Fireblocks infrastructure is intended to reduce some of the technical complexity associated with managing digital assets, letting users establish and control a wallet through the TrueMoney application rather than relying on a separate wallet interface.

The system also includes an assisted recovery mechanism designed to help users regain access if they lose their credentials. This feature addresses one of the practical challenges associated with self-managed digital assets, where the loss of authentication information or private-key-related credentials can result in difficulties accessing funds.

The pilot is therefore testing not only blockchain-based payments but also the user experience surrounding digital asset ownership and management. By incorporating wallet functionality into an established financial application, TrueMoney can assess how users interact with programmable assets without requiring them to navigate a separate blockchain infrastructure.

THBT Supports Coupons and Digital Asset Swaps

Participants in the pilot can use THBT to purchase digital coupons through the THBTStore. They can also exchange THBT for six supported digital assets, expanding the pilot beyond a single-purpose payment instrument.

The system additionally accommodates tourists and expatriates. Eligible users can exchange supported digital assets for THBT and then use the digital baht-linked units to purchase digital coupons, or convert THBT into Thai baht for everyday transactions within the TrueMoney ecosystem.

This functionality creates a pathway between digital assets and conventional spending. Instead of requiring users to exit the blockchain environment before making purchases, the pilot allows THBT to serve as an intermediary between supported digital assets and payments denominated in Thai baht, effectively bridging digital assets and everyday payments. Because that entire path — asset swap, coupon purchase, baht conversion — runs inside one supervised trial, the sandbox setup places the full sequence under regulator observation rather than testing the steps in isolation.

Regulatory Testing Could Shape Future Payment Services

TrueMoney's expanded pilot follows its broader cooperation with the Solana ecosystem on digital asset payments and related development. The THBT initiative gives the company an opportunity to examine how blockchain-based payment services can function under Thailand's evolving regulatory framework, and the pairing of a central bank payments sandbox with a securities regulator digital asset sandbox illustrates how the country's two testing regimes operate alongside each other.

Swap a supported digital asset for THBT, then spend on digital coupons or withdraw straight to Thai Baht. No wallet setup, no key management. Thai Baht @TrueMoney (THBT) Phase 2, built on Fireblocks and @dynamic_xyz , live under the @BankofThailand 's Enhanced Regulatory Sandbox.… pic.twitter.com/XBuSvJ6PbR

— Fireblocks (@FireblocksHQ) September 15, 2026

For Ascend Bit, the project provides an environment for testing digital asset services within the country's regulatory sandbox structure. For Fireblocks, the integration demonstrates how institutional-grade wallet infrastructure can be incorporated into a consumer-facing financial application.

TrueMoney executives said the collaboration had provided a way to make THBT more accessible while maintaining security and simplifying the user experience. The company indicated that reducing technical barriers could help Thai and international users explore practical applications of digital assets and programmable payments.

Fireblocks has similarly emphasized an infrastructure approach in which users do not need to manage complex seed phrases or private keys directly. The technology is intended to keep the underlying blockchain processes largely behind the payment experience.

Applications Open Through December 2026

The second phase of the THBT pilot is open to as many as 20,000 Thai and international participants. Applications will remain open through Dec. 31, 2026.

The project could provide TrueMoney and its partners with data on how users interact with regulated digital assets, blockchain wallets, and programmable payments in a controlled environment. The fixed participant cap and application window give the trial a defined scope and timeline for generating that evidence, and the results may help inform the development of future digital asset payment services as Thailand continues to assess blockchain applications within its regulatory framework.

Source: CoinTrust