Bhutan, World first introduction of cryptocurrency payment throughout tourism industry

Bhutan Introduces Cryptocurrency Payment In Tourism Industry (Source: Binance)

Bhutan has become the first country in the world to introduce cryptocurrency payments across the tourism sector, showcasing a new model combining cryptocurrency and travel.

On The 7th, The Government Of Bhutan Officially Announced A System Through Collaboration With Binance Pay And Digital Kidu Bank (DK Bank) That Allows Tourists To Pay For All Aspects Of Travel, Including Airfare, Visas, Accommodation, Tourist Attractions, And Shopping, Entirely With Cryptocurrency. Anyone With A Binance Account Can Use This Service In Bhutan.

This System Supports Over 100 Digital Assets, Including Binance Coin (BNB), Bitcoin (BTC), And USDC, Ensuring Transaction Stability Through Real-Time Authentication And Dual Security Procedures. Currently, More Than 100 Shops In Bhutan Have Adopted This Payment System.

The Settlement Of Payments Is Handled By Digital Kidu Bank, Bhutan's First Digital Specialized Bank. This Bank Has Established An Easy System That Enables Payments Via QR Code, Allowing Small Businesses In Remote Areas To Participate Easily Without Additional Equipment. The Bank Has Received Official Approval From The Bhutanese Financial Authorities.

The Director Of The Bhutan Tourism Council, Damcho Rinzin, Explained, “This Measure Will Enhance Tourist Convenience And Provide New Economic Opportunities For Merchants In Remote Areas.” Binance CEO Richard Teng Evaluated It As “A Case Demonstrating How Digital Assets Can Serve As A Means To Connect Culture And Economy.”

Bhutan Has Already Garnered Global Attention With Its Sustainable Tourism Policies. This Measure Is The First Case Of Applying A Nationwide Cryptocurrency-Based Payment Infrastructure To Real Life, And It Is Suggested That It Could Become A Model For Other Countries In The Future.