Bhutan Embraces Crypto Payments for Travelers: A New Era in Tourism

The government of Bhutan, in collaboration with the local digital bank DK Bank, has introduced the Binance Pay service to facilitate cryptocurrency payments in the tourism sector.

Users now have the ability to pay for airline tickets, hotels, tours, and even street food by scanning QR codes using bitcoin, BNB, USDC, and an additional 97 digital assets.

Payments will be converted into the local currency, ngultrum, through DK Bank. According to Binance, over 100 local merchants have already joined the system. This solution simplifies payment processes for small businesses that lack card terminals, requiring only a smartphone with a QR code.

Binance has stated that this integration will reduce currency conversion fees and address the issue of refusal to accept international cards.

According to Bitcoin Treasuries, Bhutan ranks fifth worldwide in terms of bitcoin reserves. The country’s balance sheet holds 12,062 BTC.

The kingdom is actively increasing its holdings through mining, utilizing its abundant hydropower resources.

Earlier this year, in the Special Administrative Region of Bhutan, digital assets like bitcoin and BNB were incorporated into strategic reserves.

It is worth noting that in October 2024, the government transferred approximately 935 BTC to a deposit address on Binance.