TL;DR
- Bhutan integrated payments with over 100 cryptocurrencies into its tourism industry through a partnership with Binance Pay and DK Bank.
- The system uses QR codes and allows payments for everything from flights to street market purchases, with instant settlement in local currency.
- The country, which holds one of the world’s largest state Bitcoin reserves, aims to modernize its tourism sector and grow it to 20% of national GDP.
Bhutan has formalized an agreement with Binance Pay and DK Bank to integrate cryptocurrency payments across its entire tourism industry.
This initiative will let visitors pay for flights, visas, hotel stays, tour guides, and purchases in local markets using more than 100 cryptocurrencies, including Bitcoin (BTC), Binance Coin (BNB), and USD Coin (USDC). Merchants receive payments in the local currency, the Ngultrum (BTN), through immediate settlement managed by DK Bank.
The system operates through QR codes, a widely used tool in the region, which will ease adoption even in rural areas where traditional banking terminals aren’t available. More than 100 merchants have joined this payment network, which removes intermediaries, lowers costs tied to international transactions, and avoids currency conversion fees.
Binance Pay emphasized that its infrastructure enables real-time payment confirmations with no transaction fees or network costs. This solves common issues in tourism destinations that rely on underdeveloped financial services. It also offers small vendors and artisans a way to accept payments without needing a bank account or investing in expensive payment terminals.
Bhutan Holds One of the World’s Five Largest State Bitcoin Reserves
According to Arkham Intelligence, Bhutan holds one of the five largest state-owned Bitcoin reserves globally, surpassing even El Salvador. A large part of this reserve comes from its Bitcoin mining operations, made possible by abundant renewable energy and a cold climate that lowers operating costs.
The government has used these funds to pay public sector salaries and finance infrastructure projects. It also aims to grow tourism to represent up to 20% of national GDP in the coming years. To support this, it seeks to attract international travelers and make their stay easier by offering modern, flexible payment methods.
With this integration, Bhutan becomes the first country to enable a nationwide crypto tourism payment system, covering both major services and everyday transactions in street markets. The agreement combines financial inclusion, economic decentralization, and greater tourism competitiveness into a single operational model.
