This is a press release written and provided by Binance, and does not represent the position of Block Zone.
2May 7, 2025, Thimphu, Bhutan —— Bhutan becomes the world's first country to implement a national-level cryptocurrency tourism payment system, leading the future of tourism.
Through this innovative mechanism, travelers with Binance accounts can experience a truly cashless journey. This plan is a collaboration between Binance Pay and Bhutan's fully digital bank DK Bank, providing a seamless, secure, and flexible end-to-end payment experience for Binance Pay users.
Currently, over 100 merchants have been integrated with DK Bank and Binance Pay. From booking flights to purchasing fresh fruits from street vendors, travelers can enjoy the convenience and efficiency of digital payments throughout their trip.
"This innovative model allows Binance Pay users to pay for almost all items during their Bhutan trip using supported cryptocurrencies. This includes flight tickets to Bhutan, tourist visas and Bhutan Sustainable Development Fee (SDF), hotel bookings, guide services, attraction tickets, local shopping, etc., which can be quickly and securely completed through static or dynamic QR Codes."
Bhutan, known as the "Kingdom of Happiness", prioritizes Gross National Happiness (GNH) over Gross Domestic Product (GDP), and is committed to sustainable development, cultural preservation, and social welfare. This innovative collaboration with Binance Pay and DK Bank is an important step in realizing this vision, enhancing tourism experience through digital innovation, empowering local communities, and achieving a fusion of tradition and technology.
Key Highlights:
- Seamless Experience: Travelers can pay for all travel-related expenses using cryptocurrencies, from tickets and visas to local spending.
- Tourism Priority: The system is fully integrated with immigration, travel agencies, hotels, guides, and retail channels.
- Comprehensive Coverage: Even small merchants in remote areas can accept QR Code payments.
- Supported by DK Bank: Backed by Bhutan's first fully digital bank.
- Low Transaction Fees: Cheaper than traditional payment methods, with no gas fees.
- Real-time Transactions: Providing instant, seamless cryptocurrency payment experiences for travelers.
- Comprehensive Support: Supporting over 100 cryptocurrencies, including BNB, BTC, USDC, etc.
- Secure Transactions: Encrypted transactions through Binance app, two-factor authentication (2FA), and instant confirmation.
Binance CEO Changpeng Zhao stated:
"We are excited to collaborate with Bhutan, which not only promotes cryptocurrency applications in tourism but also sets an example of how technology can connect culture and economy. This project demonstrates our commitment to innovation and our belief in a future where digital finance facilitates global connections and enriches travel experiences."
Damcho Rinzin, Director of Bhutan Tourism Board, said:
"This is more than a payment solution; it's a commitment to innovation, inclusivity, and convenience. It provides a seamless experience for travelers while giving small merchants in remote villages an opportunity to participate in the tourism economy."
This collaboration is the world's first tourism product to accept cryptocurrency payments at a national level. By offering low transaction fees and instant settlement, it effectively addresses common digital payment obstacles such as high fees and limited merchant acceptance. The instant notification feature further ensures transaction transparency for both merchants and travelers.
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Bhutan's first fully digital bank DK Bank is responsible for technical support of the local settlement mechanism. Authorized by the Royal Monetary Authority of Bhutan, the bank is committed to providing seamless, secure, and accessible financial services to all social strata, especially vulnerable groups and the unbanked, through modern technology and innovation.https://www.digitalkidu.bt/
Binance Payis a seamless, borderless, and secure cryptocurrency payment feature within the Binance app,
allowing users and merchants to make, send, and receive payments globally in cryptocurrency without gas fees. Binance Pay supports over 300 cryptocurrencies, serving over 40 million active users and 32,000 merchants. Binance currently has over 270 million registered users in more than 100 countries, making it the world's largest cryptocurrency exchange by trading volume and user count.
Bhutan Tourism Boardis responsible for developing and promoting the country's sustainable tourism. Under the guideline of "high value, low volume" tourism, the organization shares Bhutan's unique landscapes, culture, and experiences with conscious travelers.Bhutan.travel
