Crypto Adoption Grows in Bhutan Despite Internet Hurdles
Cryptocurrency is becoming integrated into daily life in Bhutan, particularly in Thimphu and Paro, following Binance's partnership with DK Bank. This collaboration allows users to pay for various services using Bitcoin, BNB, and USDt, with nearly 1,000 merchants accepting crypto. Bhutan's economy remains largely cash-based, but citizens are beginning to understand and embrace digital currency, encouraged by King Jigme Khesar Namgyel Wangchuck's support for innovation. Bhutan has been mining Bitcoin with hydropower since 2019 and holds over 12,000 BTC. However, unstable internet connectivity poses challenges for crypto adoption. The recent launch of Starlink aims to improve internet speeds, which is crucial for facilitating crypto transactions.
