In a strategic collaboration with Binance, Bhutan has announced its first fully digital bank, which will allow tourists to make crypto payments throughout their travel experience in the country.
Bhutan became the first nation to implement a country-wide cryptocurrency payment system specifically tailored for her tourism sector. The collaboration between Binance Pay and DK Bank—Bhutan’s first fully digital bank—the initiative allows tourists to make crypto payments across the entire travel experience, from booking flights to buying local produce.
The partnership allows international visitors with Binance accounts to enjoy a seamless, cashless journey through Bhutan. Reportedly, crypto payments are accepted by over 100 merchants across Bhutan for services including airline tickets, visa fees, hotel bookings, guided tours, entry to cultural sites, and even street food purchases.
Binance noted that digital payments enable small and remote businesses, without even credit card terminals to accept crypto using just a smartphone and a QR code, offering a practical solution in areas where Visa and Mastercard are less prevalent.
The system supports over 100 cryptocurrencies, including Binance Coin (BNB), Bitcoin (BTC), and USD Coin (USDC), with transactions settled in Bhutan’s national currency, the Ngultrum (BTN), via DK Bank.
Bhutan has adopted a pro-crypto stance in recent years, amassing the world’s fifth-largest Bitcoin reserve, surpassing El Salvador, owing in part to its abundant hydroelectric power and favorable climate for Bitcoin mining.
Bhutan embracing cryptocurrency is seen as part of a broader national strategy with its infrastructure setting a promising foundation for a more inclusive and modern tourism economy.