At the recent Digital Bhutan panel, co-hosted by Binance, Bhutanese officials discussed plans to incorporate cryptocurrency into everyday life.
Plans for Cryptocurrency Integration into Daily Life
Bhutan is making headway toward integrating cryptocurrency into the daily lives of its citizens and tourists with an ambitious plan set for 2025. This initiative comes as the country prepares to launch a new payment system.
Creation of Cryptocurrency Payment System for Tourists
Developed in collaboration with Binance and DK Bank, the system will enable seamless, fee-free transactions using over 100 cryptocurrencies across more than 1,000 merchants. The initiative is backed by Bhutan’s reserves of 12,062 Bitcoin, valued at approximately $1.17 billion.
Reactions from Authorities and Experts on the Initiative
Damcho Rinzin, Director of Bhutan’s Department of Tourism, highlighted that tourists, averaging $1,000 per visit, can now easily pay for goods and services. Binance CEO Richard Teng praised Bhutan’s vision as the world’s first national crypto payment system, while Ugyen Tenzin from DK Bank noted its compatibility with the country’s high mobile and QR payment usage.
Thus, Bhutan is moving forward with the implementation of an innovative cryptocurrency payment system for tourists, potentially making it one of the first countries in the world to integrate cryptocurrency into the tourism sector.
