Bhutan Partners with Binance to Launch Crypto Tourism Payment System
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Binance, the world’s largest cryptocurrency exchange, has partnered with Bhutan to create a first-of-its-kind national crypto payment system for tourism.
The collaboration between Binance Pay and Bhutan’s fully digital DK Bank enables travelers to pay for goods and services using over 100 cryptocurrencies, including Bitcoin, BNB, and USDC.
https://twitter.com/binance/status/1919965419492016284
No Cash, No Cards: Bhutan’s All-Crypto Tourism Economy
On May 7, 2025, Tourism Bhutan and Binance officially announced the system’s launch on X (formerly Twitter). More than 100 local merchants have reportedly adopted the platform, accepting crypto payments for everything from hotels to guided tours.
Binance CEO Richard Teng called the project a milestone in digital finance. “This system allows travelers to use cryptocurrency seamlessly throughout their journey,” he said. The platform eliminates transaction fees, processes payments instantly, and uses encryption and two-factor authentication for security.
https://twitter.com/_RichardTeng/status/1919965864993931728
Teng added that the system shows Binance’s dedication to pushing boundaries, using digital finance to connect people globally and enrich travel.
Even former Binance CEO Changpeng Zhao (CZ) chimed in, praising Bhutan’s mystical charm and its embrace of “magic internet money.” His endorsement added a touch of enthusiasm to the partnership, reinforcing the excitement around this bold step in crypto adoption.
https://twitter.com/cz_binance/status/1919983329107144935
Since 2024, Bhutan’s tourism numbers have grown.
The government forecasts 250,000 visitors in 2025, which could nearly double to 585,600 by 2028. Revenue reflects this boom: collections skyrocketed by 157% from Q3 to Q4 2024, hitting $12.1 million by year’s end.
Crypto payments are fueling this growth.
By eliminating exchange fees and banking delays, travelers enjoy smoother transactions and are free to focus on their trips.
Pioneers like Travala and Take Off have paved the way, but Bhutan’s nationwide adoption sets a new standard, proving cryptocurrency’s potential to reshape the tourism industry.
From BTC Mining to Mainstream Adoption
Bhutan’s embrace of cryptocurrency goes far beyond its new tourism payment system.
This small Himalayan kingdom has been quietly building a crypto empire for years.
Back in 2019, it was revealed that Bhutan had secretly mined 13,000 Bitcoin, making it the fourth-largest sovereign holder of BTC at the time.
That Bitcoin holding, now worth hundreds of millions, was just the beginning of the country’s ambitious digital strategy.
To scale up its mining capacity, Bhutan partnered with Bitdeer, a Nasdaq-listed company backed by state-owned Druk Holdings. The goal is to reach 600 megawatts of mining power by mid-2025.
By April, reports indicated that Bhutan’s cryptocurrency reserves had exceeded $1 billion. Some of these funds were allocated during the pandemic to cover government salaries.
Authorities also announced plans to expand the country’s cryptocurrency mining operations, emphasizing a continued focus on sustainability.
Bhutan’s mining activities rely entirely on renewable hydroelectric energy, complying with ESG standards. This approach has drawn interest from investors seeking environmentally conscious opportunities.
The initiative reflects a broader effort to balance economic development with ecological considerations.
Notably, many governments are pivoting toward boosting crypto activities in their countries. Recently, the Maldives inked a deal with a Dubai-based family office to invest over $8 billion in a new financial-free zone that will be a crypto hub. This highlights how crypto adoption is shifting to the digital asset mainstream.
