In a bold step toward redefining travel in the digital age, Bhutan has unveiled its latest initiative—a national-level crypto tourism payment system—on May 7, 2025, in collaboration with Binance Pay and DK Bank. This new system will allow visitors to the Himalayan kingdom to settle payments using a variety of cryptocurrencies, including Bitcoin (BTC), USDC, and Binance Coin (BNB), bringing a modern twist to travel convenience.
A Leap for Tourism and Local Businesses
The introduction of this system isn’t just a technological upgrade; it represents a paradigm shift for small businesses tucked away in Bhutan’s picturesque yet remote corners. Many of these enterprises—like local artisans and vendors—have traditionally faced hurdles in accessing card payment infrastructure. With the new system, even the most isolated businesses can now embrace the digital economy, accepting payments via a simple QR code scanned on a phone.
“This is more than a payment solution—it’s a commitment to innovation, inclusion, and convenience,” asserts Damcho Rinzin, director of Bhutan’s tourism department. Indeed, the implications for local business owners are vast. They can now tap into the spending power of international travelers without the logistical headaches of currency exchange. This follows a pattern of expanding crypto payment options, as seen in Mesh’s integration of Apple Pay to facilitate crypto spending.
Bhutan’s Crypto Ambitions
While the tourism-focused payment system is groundbreaking, it’s just one piece of Bhutan’s broader digital finance ambitions. The country’s affinity for cryptocurrencies is well-documented, with its involvement in mining and investing in Bitcoin dating back to 2019. Druk Holding and Investments (DHI), Bhutan’s commercial arm, has steadily increased its crypto holdings, recently adding 374 Bitcoin to its reserves, according to data from Arkham.
Richard Teng, CEO of Binance, highlighted the significance of the initiative, stating, “This system sets a precedent for how technology can bridge cultures and economies.” It’s a sentiment that echoes Bhutan’s forward-thinking approach as it maneuvers to establish a strategic crypto reserve as part of a burgeoning economic hub. For a broader perspective on crypto payment innovations, see Visa and Baanx’s launch of USDC stablecoin payment cards.
Bridging Cultures with Technology
The move to embrace crypto payments aligns with Bhutan’s vision of digital connectivity and global engagement. The system promises real-time confirmations and near-zero transaction fees, with a fully licensed local bank managing settlements, ensuring a seamless experience for both tourists and local vendors. According to a Binance announcement, tourists can now navigate Bhutan without the need for local cash, simply with their Binance App in hand.
However, despite this digital leap, the regulatory environment for cryptocurrencies in Bhutan remains somewhat murky. In 2020, the Royal Monetary Authority (RMA) issued a cautionary note regarding investments in cryptocurrencies like Pi, highlighting the uncertainties surrounding their economic impact.
Looking Ahead
As Bhutan positions itself as a pioneer in integrating cryptocurrency within its tourism sector, questions linger about the long-term implications of such a model. Can Bhutan maintain its balance between innovation and regulatory oversight? Will this initiative inspire other nations to explore similar pathways?
One thing is certain: Bhutan’s foray into crypto payments is a testament to its unwavering commitment to innovation and its desire to redefine travel in an increasingly digital world. As the global crypto landscape evolves, all eyes will be on Bhutan to see how this daring experiment unfolds.
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This article is based on: Bhutan launches tourism crypto payments with Binance Pay and DK Bank
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
