Bhutan Launches Cryptocurrency Payment System for Tourism
| Aspect | Details |
|---|---|
| Event | Bhutan launches cryptocurrency-based payment system for tourism. |
| Partners | Binance Pay and DK Bank. |
| Launch Date | May 2025. |
| Key Features | - Payment for flights, hotels, visas, SDF, monument entry, and local shopping. <br> - QR code payments (static & dynamic). <br> - Auto-conversion of crypto to Bhutanese Ngultrum (BTN). |
| Aim | - Promote cashless travel. <br> - Encourage financial inclusion. <br> - Reduce foreign exchange friction. <br> - Position Bhutan as a technological leader in sustainable tourism. |
| Background | - Fiat currency: Bhutanese Ngultrum (BTN). <br> - Bhutan holds 12,062 BTC (worth ~$1.17 billion). <br> - Over 100 businesses integrated with Binance Pay. |
| Significance | - First sovereign country to integrate crypto payments in tourism. <br> - Enhances accessibility and efficiency. <br> - Taps into the $3 trillion global crypto market. |