Bhutan has launched a national-level crypto payment system, Binance Pay, allowing international visitors to pay for travel-related expenses using cryptocurrencies like BNB, BTC, and USDC. Binance Pay, a blockchain-based payment method, is fully operational in Bhutan, benefiting over 100 merchants across Thimphu and Paro, with plans to expand to other districts. Travelers who have Binance accounts can now pay for almost anything. Travelers must have an account with Binance and keep money in supported cryptocurrencies in order to use the service.
Binance Pay facilitates payments by providing real-time encrypted transactions free of gas prices, whereas blockchain transfers incur transaction costs. DK Bank serves as the main account holder for merchants, enrolling local companies and granting them the ability to accept cryptocurrency payments. By trading volume, Binance continues to be the biggest cryptocurrency exchange in the world, with over 40 million active users and support for over 300 coins. With a Royal Monetary Authority license, DK Bank is the first totally digital bank in Bhutan with the mission of offering comprehensive financial services to all societal groups.