Bhutan has introduced a pioneering crypto payment system for tourists, becoming the first country to implement a national-level travel infrastructure powered by Binance Pay in partnership with DK Bank.
Announced on May 7, the initiative allows travellers with Binance accounts to pay for nearly every aspect of their trip using cryptocurrency, including airfare, visa fees, accommodations, guided tours, entry to cultural sites, and even local purchases such as fresh fruit from roadside vendors.
In a significant move, more than 100 local merchants in Bhutan have already signed on to the crypto-friendly tourism platform, although specific businesses were not disclosed. Visitors can make payments by scanning either static or dynamic QR codes using the Binance app, which supports over 100 cryptocurrencies, including Bitcoin and USD Coin (USDC). While tourists pay in digital assets, local merchants still receive payments in Bhutanese currency, as all transactions are seamlessly converted and settled through DK Bank, Bhutan’s licensed digital bank regulated by the Royal Monetary Authority of Bhutan.
Binance CEO Richard Teng expressed pride in the partnership, highlighting that the initiative sets a precedent for how technology can bridge cultures and economies, furthering the adoption of cryptocurrency in Bhutan’s tourism sector.
This new system comes amidst broader discussions on cryptocurrency in Bhutan. In mid-April, Bhutanese Prime Minister Tshering Tobgay called state-backed Bitcoin mining “a simple strategic choice that many people have made and earned billions of dollars,” urging government involvement in crypto mining. These remarks come as Bhutan faces significant economic challenges, such as high youth unemployment and a growing brain drain. In 2022, over 10% of the country’s educated population emigrated, underscoring the need for innovative solutions to boost the national economy.
Binance has also been actively expanding its reach in Central Asia. The company recently partnered with Kyrgyzstan’s National Agency for Investments to introduce crypto payment infrastructure and blockchain education throughout the country. This partnership was formalized during the inaugural meeting of Kyrgyzstan’s Council for the Development of Digital Assets, attended by President Sadyr Japarov.
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