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Bhutan Partners with Binance Pay for Its Tourism Ecosystem
By: decrypt|2025/05/07 20:30:03
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Bhutan Partners with Binance Pay for Its Tourism Ecosystem The small Himalayan country has adopted strongly pro-crypto policies in recent years, stockpiling Bitcoin for a national reserve. In brief Bhutan has partnered with Binance Pay to allow tourists to pay with cryptocurrency. Tourists will able to buy goods and services such as hotel stays and tour guides with 100 different cryptocurrencies. Supported cryptocurrencies include Bitcoin (BTC), Binance Coin (BNB) and USD Coin (USDC). Decrypt’s Art, Fashion, and Entertainment Hub. The Himalayan country of Bhutan has partnered with Binance Pay to enable crypto payments throughout its tourism ecosystem. The integration, powered in conjunction with Bhutan’s local DK Bank , will reportedly allow tourists visiting the country to pay for things such as airline tickets, visa fees, hotel stays, monument entry, tour guides, and street food from roadside stalls with cryptocurrencies. Experience #Bhutan with the world’s first national crypto tourism payment system! Powered by Binance Pay and DK Bank, it offers seamless crypto payments for flights, hotels, local crafts, and much more. Over 100 local merchants await on this cashless adventure. @tourismbhutan ... pic.twitter.com/FUYVo4HYMe — Binance (@binance) May 7, 2025 The new integration currently supports over 100 cryptocurrencies, including Binance Coin (BNB), Bitcoin (BTC), and USD Coin (USDC), and settles via the local currency, the Ngultrum (BTN), through DK Bank. According to Binance, over 100 local merchants have been onboarded to the platform. The crypto exchange claims that the integration will enable small or rural local businesses, which may lack traditional payments infrastructure like card terminals, to accept crypto payments with their smartphones using only a QR code. QR codes are already one of the most popular forms of payment in the region, while the infrastructure supporting traditional payment rails like Visa or Mastercard is comparatively underdeveloped . Binance also highlighted how the tool could help avoid common travel headaches like high transaction and currency exchange fees, and the limited acceptance of international cards. It’s still unclear what Bhutan's adoption of crypto payments will look like in practice. Though Bitcoin was legal tender in El Salvador between 2021 and early 2025 , some studies showed relatively limited uptake by local businesses, who often opted to use US dollars instead . Bhutan looks to crypto and tourism It shouldn't come as a big surprise that Bhutan is signing deals with major crypto payments providers; the country has emerged as one of the most crypto-first nations in recent years in some respects. Despite its relatively small economy, it has acquired the fifth-largest Bitcoin reserve of any country—ahead of El Salvador—according to data from Arkham Intelligence. This comes as a result of its abundant renewable energy supply and cold weather, which make it an ideal location for Bitcoin mining . Its Bitcoin reserves have previously been used to pay state employees like teachers, and its leaders have earmarked mining as a way to fuel economic growth . Meanwhile, a Special Administrative Region in Bhutan announced earlier this year it is to formally adopt digital assets , such as Bitcoin, Ethereum, and Binance’s BNB token, as part of its strategic reserves. Meanwhile, Bhutan’s government is also pushing to increase tourism revenues, planning for tourism to one day represent up to 20% of its entire economy . Daily Debrief Newsletter
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