Bhutan Announces Innovative Cryptocurrency Payment System for Tourism Transactions
In a groundbreaking move, the tiny Himalayan kingdom of Bhutan has officially launched a national-level cryptocurrency tourism payment system on May 7, 2025, in collaboration with Binance Pay and DK Bank. This innovative system allows tourists to pay for travel-related expenses using over 100 cryptocurrencies, such as stablecoins, BNB, BTC, ETH, and USDT, via QR codes. Payments made in crypto are instantly converted to Bhutanese Ngultrum, facilitating seamless cashless transactions for tourists [1][2].
This initiative aligns closely with Bhutan’s Gross National Happiness (GNH) philosophy by promoting sustainable development, cultural preservation, environmental conservation, financial inclusion, and good governance. Bhutan leverages its abundant hydropower resources to support sustainable crypto mining, which has been ongoing since 2019, aiming to boost the economy while minimizing environmental impact [1][2][5].
The government supports this innovation as part of a broader economic diversification and digital evolution strategy. Bhutan has been actively building a strategic cryptocurrency reserve and enabling crypto adoption beyond tourism into areas like remittances and commerce. The Gelephu Mindfulness City project is an important component, focusing on building a native blockchain ecosystem with trusted commerce and safe innovation [2][3][5].
Binance, the global cryptocurrency exchange, announced that Bhutan travelers can use cryptocurrency to pay for travel-related services. Richard Teng, CEO of Binance, stated that the crypto payment system in Bhutan represents a significant step forward for cryptocurrency payments in the travel sector. Damcho Rinzin, director of Bhutan's tourism department, stated that the initiative is a commitment to innovation, inclusion, and convenience [2].
The system enables businesses in Bhutan to accept crypto-based transactions through a QR code-based system. It addresses previous limitations in the Bhutanese tourism sector by modernizing travel transactions and boosting digital adoption. The system offers real-time confirmations, near-zero fees, and a fully licensed local bank handles settlements on the ground [1].
Reports suggest that the government of Bhutan has been involved in Bitcoin mining and investment since at least 2019. The venture is reportedly the first to provide a comprehensive, fully integrated crypto payment solution at a national scale. Binance and Bhutan's tourism department called their joint initiative the "world's first national-level crypto tourism payment system."
The initiative aims to support small vendors and rural artisans who lack access to traditional payment infrastructure. By adopting cryptocurrency, Bhutan is positioning itself as a pioneering nation in integrating cryptocurrency into its tourism sector, with a robust partnership with Binance Pay and DK Bank, eco-friendly mining practices, and a vision of financial inclusion and sustainable digital finance [1][2][3].
However, readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions. This article is provided for informational purposes only and is not financial advice.
[1] Binance. (2025). Bhutan Launches National-Level Crypto Tourism Payment System. [online] Available at: https://www.binance.com/en/blog/news/2025-05-07-bhutan-launches-national-level-crypto-tourism-payment-system
[2] Tourism Council of Bhutan. (2025). Bhutan Launches Cryptocurrency Payment System for Tourism. [online] Available at: https://www.tourismcouncilbhutan.bt/news/bhutan-launches-cryptocurrency-payment-system-for-tourism
[3] DK Bank. (2025). Partnership with Binance for National Crypto Tourism Payment System. [online] Available at: https://www.dkbank.bt/en/news/partnership-with-binance-for-national-crypto-tourism-payment-system
[4] The Shib Magazine. (2025). Bhutan Launches National Crypto Tourism Payment System. [online] Available at: https://shibmagazine.com/bhutan-launches-national-crypto-tourism-payment-system/
[5] Government of Bhutan. (2025). Sustainable Crypto Mining and the Gelephu Mindfulness City Project. [online] Available at: https://www.gov.bt/sustainable-crypto-mining-and-the-gelephu-mindfulness-city-project/
- The Shib Magazine reported that Bhutan's innovative crypto tourism payment system, a collaboration between Binance Pay, DK Bank, and the government, has expanded crypto adoption beyond travel to areas such as remittances and commerce, aligning with the country's vision of financial inclusion.
- In line with Bhutan's Gross National Happiness (GNH) philosophy, the government's support for this crypto payment system demonstrates a commitment to promoting sustainable development, cultural preservation, environmental conservation, good governance, and technological advancement, including the use of blockchain technology in finance and lifestyle sectors.
- With the implementation of the national-level cryptocurrency tourism payment system, Bhutan positions itself as a pioneer in integrating technology and cryptocurrency into its tourism sector, empowering small vendors and rural artisans with access to modern financial services and bolstering digital adoption in the country's finance, travel, and lifestyle industries.
