On Wednesday, Binance, the world’s largest cryptocurrency exchange, announced a partnership with Bhutan to launch the world’s first national-level crypto payment system for tourism.
The innovative development was supported by Bhutan’s fully digital DK Bank and Binance Pay, which will enable travellers with Binance accounts to pay for flights, visas, hotels, and local purchases using over 100 cryptocurrencies, including Bitcoin (BTC), BNB, and USDC.
Binance leads the shift toward cashless travel
“No need to pack your wallet – hop on a journey of innovation and inclusion with just your #Binance App!,” Binance posted on X.
The system integrates static and dynamic QR code technology for seamless transactions across Bhutan’s tourism sector.
Over 100 merchants, from hotels to rural vendors, have already adopted the platform. Tourists can now cover nearly all expenses including the Sustainable Development Fee (SDF), local transportation, and cultural site entries—without cash or traditional cards.
Damcho Rinzin, Director of Bhutan’s Department of Tourism, stated, “This is more than a payment solution—it’s a commitment to innovation, inclusion, and convenience.”
The initiative aligns with Bhutan’s Gross National Happiness (GNH) framework, which prioritises sustainability and equitable economic growth. By eliminating the need for point-of-sale infrastructure, even remote vendors can participate in the tourism economy.
Binance CEO Richard Teng emphasised the partnership’s broader impact: “We are not only advancing the use of cryptocurrencies in travel but also setting a precedent for how technology can bridge cultures and economies.”
Issues and barriers Binance Pay seeks to address
DK Bank, Bhutan’s first fully digital bank, powers the local settlement mechanism, ensuring real-time transactions with zero gas fees. The system addresses common pain points like high foreign exchange fees and limited card acceptance.
With support for over 300 cryptocurrencies and a user base of 40 million, Binance Pay offers strong global scalability.
Bhutan’s crypto-friendly stance isn’t new. The country has reportedly mined and held Bitcoin since 2019, with its sovereign arm, Druk Holding & Investments, amassing over 12,000 BTC.
Still, regulatory clarity continues to evolve, with the central bank having previously cautioned against unverified crypto ventures like Pi Network.
This partnership represents a significant step in mainstream crypto adoption, demonstrating its practicality on a national level. For Bhutan, it’s a move toward harmonising tradition with advanced technology, while preserving its focus on happiness.