Bhutan has become the first country to launch a national crypto payment system for tourists. This initiative is made possible through a partnership with Binance and DK Bank.
Partnership with Binance and DK Bank
Bhutan's tourism crypto payment system was launched in collaboration with Binance Pay and DK Bank. The system allows tourists with Binance accounts to pay for services such as tickets, accommodations, and tours using over 100 crypto assets including Bitcoin, USDC, and BNB.
Benefits for Small Businesses
The initiative specifically targets small businesses in Bhutan, such as vendors and rural artisans who previously lacked access to payment infrastructure. "Even Bhutan’s most remote businesses can now accept crypto through a phone, gaining access to international travelers with just a QR code," the announcement stated.
Support for Cryptocurrencies in Bhutan
The launch of the payment system aligns with Bhutan's broader strategy of embracing digital assets. The country has established a strategic crypto reserve and has been reportedly mining Bitcoin since at least 2019. However, the regulation of cryptocurrencies like Bitcoin remains somewhat in a legal gray area.
Bhutan's launch of the crypto payment system opens new possibilities for tourists and local businesses, highlighting the country's commitment to innovation in digital finance.
