Bhutan Partners with Binance Pay for Its Tourism Ecosystem
Bhutan has partnered with Binance Pay to facilitate crypto payments in its tourism sector, enabling tourists to pay for airline tickets, visa fees, hotel stays, and local services using cryptocurrencies. The integration, in collaboration with DK Bank, supports over 100 cryptocurrencies, including Bitcoin and Binance Coin, and settles transactions in the local currency, Ngultrum. More than 100 local merchants have joined the platform, allowing small businesses to accept crypto payments via QR codes. This initiative aims to reduce transaction fees and improve payment accessibility in a region with limited traditional payment infrastructure. Bhutan has emerged as a crypto-friendly nation, holding the fifth-largest Bitcoin reserve globally and exploring digital assets as part of its strategic reserves. The government aims to boost tourism revenue to represent 20% of its economy.
