Bhutan, Binance Pay, and DK Bank Launch Crypto Tourism Payment. This is the First National-Level System, Supporting Over 100 Cryptocurrencies.
Bhutan has just officially launched the world's first national-level tourism payment system using cryptocurrency, through a strategic partnership with Binance Pay and local bank DK Bank. This initiative, introduced by the Bhutan Tourism Agency and Binance, aims to digitize the tourism experience, expand financial service accessibility, and promote financial inclusion in this South Asian country.
According to the announcement on May 7th, the system allows international tourists with Binance accounts to directly pay for tourism services in Bhutan using cryptocurrency, including entrance tickets, hotel accommodations, tour guide services, and many other services. Users can choose from over 100 crypto assets, including popular ones like Bitcoin (BTC), USD Coin (USDC), and BNB – Binance's native token.
For Bhutanese businesses, especially small businesses and individual operators in rural areas, this system provides a simple and flexible payment method through QR codes, requiring only a mobile device to connect with global tourists.
Binance stated that implementing this model aims to address the shortcomings of traditional financial infrastructure, which creates difficulties for entities unable to access credit card systems or official bank accounts.
Mr. Damcho Rinzin – Director of Bhutan Tourism Agency – emphasized: "This is not just a payment solution, but also a commitment to innovation, promoting inclusion and convenience for both tourists and local businesses." According to him, the project particularly focuses on supporting small businesses that make up a large proportion of Bhutan's tourism industry.
Binance also confirmed this is the world's first model providing an integrated crypto payment system at the national level, with real-time transaction processing capabilities, near-zero transaction fees, and the participation of licensed local banks, ensuring on-site asset reconciliation and conversion.
Mr. Richard Teng – Binance CEO – noted: "This system not only marks a step forward in expanding cryptocurrency payment applications in tourism but also establishes an important precedent on how technology can connect economies and cultures." He emphasized that this is part of Binance's commitment to promoting global financial innovation and enhancing digital accessibility.
The launch of the crypto tourism payment system also aligns with Bhutan's long-term strategy of integrating digital assets into the national economy. Bhutan is currently building a strategic crypto reserve as part of its plan to develop new economic zones while increasing investment in digital asset infrastructure.
Data from the Arkham analysis platform shows that Druk Holding and Investments (DHI) – Bhutan's national investment fund – has added 374 BTC since the beginning of January, raising its total holdings to 12,062 BTC. In addition to Bitcoin, DHI also owns digital assets on blockchain networks like Polygon, BNB Chain, and Base.
However, Bhutan still lacks a clear legal framework for digital assets. The Bhutan Central Bank – Royal Monetary Authority (RMA) – previously issued a warning in 2020 regarding risks from cryptocurrencies, specifically the Pi coin, advising citizens to be cautious when investing in asset types not fully evaluated for their impact on the financial system.
"RMA wants to remind citizens to be extremely careful when investing in Pi or any other cryptocurrency, as their impacts, risks, and use cases remain unclear," the agency's announcement stated.
