Bhutan has become the first country globally to fully integrate cryptocurrency payments into its tourism sector, thanks to the launch of a national crypto payment infrastructure in collaboration with Binance Pay and the state-owned DK Bank.
Integration of Cryptocurrencies in Bhutan's Tourism
Bhutan offers travelers the ability to use over 100 cryptocurrencies to pay for various tourist services. This includes payments for flights, visas, hotel accommodations, tour guides, monument entry fees, and even purchases at local markets.
How the New Payment System Works
Payments are made via QR codes – both static and dynamic – through the Binance app, allowing tourists to complete transactions instantly and securely without the need for cash or cards. Payments made in digital assets such as Bitcoin, Ethereum, Binance Coin, and stablecoins are automatically converted into the local currency, the Ngultrum.
Impact on Economy and National Development
More than 100 merchants across Bhutan, including those in remote and rural areas, have adopted the platform. This significantly simplifies the payment process for international visitors and promotes financial inclusion, supporting small businesses and artisans. This initiative also aligns with Bhutan's national development goals emphasizing technology, self-reliance, and sustainable growth.
The launch of the crypto payment system in Bhutan’s tourism sector marks a significant milestone in the global adoption of digital currencies, showcasing how blockchain can enhance travel convenience and support local economies.
