In a landmark move that positions it at the vanguard of digital payments innovation, the unlikely nation of Bhutan has become the first country to launch a national-level crypto payment system specifically for tourism.
Bhutan crypto payment system
The initiative — developed in collaboration with Binance Pay and Bhutan’s DK Bank — enables travellers to the Himalayan kingdom to settle nearly every travel-related cost using a broad spectrum of cryptocurrencies.
From booking flights and paying visa fees to buying handicrafts from local artisans or fresh produce from roadside stalls, visitors can now transact using more than 100 different crypto assets, including Bitcoin (BTC), BNB and USDC.
With Binance Pay fully integrated and over 100 local merchants onboarded by DK Bank, Bhutan is crafting a truly cashless, cardless travel experience.
More Than a Crypto Payment System
“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.
“Even the most remote businesses in Bhutan can now participate in the tourism economy with nothing more than a smartphone.”
Through this system, merchants generate dynamic or static QR codes that tourists can scan using the Binance app, enabling real-time, gas-free transactions.
Settlements occur instantly in the local currency via DK Bank, ensuring a frictionless experience for both travellers and vendors.
According to Binance, the model addresses legacy constraints such as currency exchange costs, card acceptance limitations and settlement delays — long-standing hurdles in cross-border tourism.
A Global First
Binance CEO Richard Teng hailed the initiative as a global first.
“This partnership not only advances the use of crypto in travel but also sets a precedent for how financial technology can connect cultures, empower economies, and transform how people experience the world.”
Bhutan’s embrace of digital assets is not new. The country’s sovereign investment arm, Druk Holding and Investments (DHI), has been actively accumulating cryptocurrencies, including 12,062 BTC as of early 2024.
The Kingdom is also developing a strategic crypto reserve to anchor its broader plans for a new digital economic hub.
However, regulation remains nascent.
Bhutan’s central bank has previously urged caution around speculative crypto projects, warning in 2020 about unregulated assets like Pi Network.
Nevertheless, the state’s commitment to pragmatic adoption appears undeterred, focusing on use cases that deliver real economic value — particularly for rural communities.
By blending cultural preservation with financial modernity, Bhutan’s crypto tourism initiative may offer a new blueprint for smaller economies looking to attract tech-savvy travellers.
In doing so, it subtly repositions the kingdom not only as a haven of Gross National Happiness — but also as a testbed for the future of decentralised payments.
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