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Bhutan Launches First National Crypto Travel Payment System With Binance Pay
By: crypto mode|2025/05/07 23:00:02
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Bhutan has partnered with leading cryptocurrency exchange Binance and DK Bank to launch what it calls the world’s first fully integrated national crypto tourism payment system. Starting this month, travelers can use crypto to pay for nearly all parts of their trip—from booking airline tickets and applying for visas to buying fruit at a roadside stall, according to a post from Binance. The new system allows payments in over 100 cryptocurrencies, including Bitcoin (BTC), Binance Coin (BNB), and USD Coin (USDC). It settles transactions in Bhutanese Ngultrum, the country’s fiat currency, through DK Bank, its first fully digital bank. According to the post, users will just scan QR codes with the Binance app to complete purchases, bypassing the need for cash, cards, or currency exchange. So far, more than 100 merchants have signed on, covering a broad spectrum of the tourism sector: hotels, travel agencies, restaurants, handicraft vendors, and even rural shops in remote areas. The move is part of a broader strategy to modernize Bhutan’s economy while preserving its cultural integrity and promoting equitable development. “This is more than a payment solution – it’s a commitment to innovation, inclusion, and convenience.” said Damcho Rinzin, Director of Bhutan’s Department of Tourism. The goal, officials say, is to offer a seamless travel experience while helping small businesses access global spending power without traditional banking infrastructure. Bhutan’s Growing Crypto Adoption The move is part of Bhutan’s ongoing adoption of cryptocurrency. The small Himalayan Kingdom has accumulated Bitcoin over time through local mining operations since 2019, seeing it as a strategic investment to generate revenue for its economy. The kingdom’s BTC holdings reached an all-time high of 13,295 BTC in late 2024, and since then have steadily declined to a 7,486 BTC low. The country has, on occasion, moved to sell coins on Binance. Bhutan’s holdings have recently surged, based on BitcoinTreasuries data, to 12,062 Bitcoin. READ ALSO Ethereum’s Pectra Upgrade Massively Boosts UX: Is This The Catalyst for the ETH Price? Here’s Why Dogecoin (DOGE) is Quietly Gearing Up for a Major Price Rally Disclaimer This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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