Bhutan, the Himalayan kingdom that prides itself on its Gross National Happiness index, has done something revolutionary in the field of tourism and technology. The world’s first national-level crypto tourism payment system has been launched in Bhutan with the help of Binance Pay and DK Bank.
This new system allows the traveler to purchase everything from an airline ticket and a visa to a hotel room and even an orange from a roadside stand using cryptocurrency.
Currently, the system has over 100 local merchants, making the travel experience in Bhutan cashless and cardless. The Binance app and secure QR codes allow tourists to make real-time payments with more than 100 cryptocurrencies, including BNB, BTC, and USDC.
The transactions are cleared and settled in Bhutanese Ngultrum through the local bank, namely, the DK Bank. This initiative addresses real-life travel issues, including high transaction costs and restricted card compatibility for international use, providing a more effective solution.
The collaboration also allows small merchants and remote companies in Bhutan to integrate cryptocurrency payment processing with just a smartphone. Bhutan has become the first country in the world to provide an integrated crypto-payment system on the national level, and this model will define the future of travel.
This is a clear demonstration of Binance’s dedication to innovation and the inclusion of all parties that will benefit from this improved connectivity and added value to travel.
Also Read: Bhutan Quietly Built Billion-Dollar Crypto Reserves: CZ at TOKEN2049
