Bhutan Integrates Tourism Payment with Cryptocurrency
Bhutan, known for its investments in cryptocurrencies like Bitcoin, has just deployed a cryptocurrency tourism payment system in collaboration with Binance Pay and DK Bank. According to a Binance announcement on May 7, this system allows Bhutanese tourists with Binance accounts to pay for services such as tickets, hotels, and guides using over 100 digital assets including Bitcoin (BTC), USDC (USDC), and BNB (BNB). This is considered the world's first national-level cryptocurrency tourism payment system.
Benefits for Small Businesses
This initiative aims to support small businesses, especially those in remote areas without payment infrastructure. Bhutanese businesses now only need a QR code on their phone to meet international tourists. Binance noted that tourists can pay for services without local currency, using only the Binance application.
Commitment to Innovation and Convenience
"This is a commitment to innovation, inclusion, and convenience," said Damcho Rinzin, Bhutan's tourism director. Binance CEO Richard Teng emphasized that this cryptocurrency payment system not only promotes tourism payments but also serves as a cultural and economic bridge through technology.
Enhancing Cryptocurrency Acceptance
Bhutan is not just deploying a payment system but also embracing digital assets. The government has invested in Bitcoin since 2019 and currently holds 12,062 BTC. Despite being crypto-friendly, legal issues remain in a gray area, as warned by the Bhutan Central Bank in 2020 about risks of investments in other cryptocurrencies.
Conclusion
By launching this system, Bhutan continues to demonstrate economic development potential through cryptocurrency, while affirming its position on the global technology map.
