Key Highlights
- Binance Pay users can now pay at more than 3,700 merchants across Bhutan through DK Bank’s Domestic QR network.
- Merchants can accept eligible crypto payments using their existing DK Bank QR codes without installing separate crypto-payment systems.
- Payments are made in USDT, with conversion to Bhutanese ngultrum handled automatically.
Binance Pay has expanded its merchant footprint in Bhutan through an integration with DK Bank’s Domestic QR payment network, allowing users to pay with cryptocurrency at more than 3,700 merchants across the country.
The integration, announced on August 24, allows Binance Pay users to scan existing DK Bank QR codes through the Binance app for eligible purchases, including travel, accommodation, food, and retail transactions.
The development expands an earlier crypto-payment initiative in Bhutan that initially focused on tourism and covered more than 100 merchants.
Existing QR infrastructure used for crypto payments
Under the new arrangement, merchants do not need to replace their existing DK Bank QR payment setup. Instead, Binance Pay connects to the bank’s domestic QR network, allowing eligible users to make payments through the same QR codes already used by participating merchants.
For users, the process involves opening Binance Pay, scanning a merchant’s DK Bank QR code, entering the amount in Bhutanese ngultrum (BTN), and confirming the transaction. The payment is settled in USDT, with the crypto-to-local-currency conversion handled automatically.
Binance said a promotional offer will waive additional fees through December 31, 2026, although exchange rates will still apply to the conversion.
Rollout expands earlier Bhutan tourism initiative
The latest integration builds on a partnership launched in May 2025 between Binance Pay, Bhutan’s Department of Tourism and DK Bank. The initiative was aimed at allowing tourists to use crypto for payments at a smaller group of merchants.
The new QR integration substantially expands the potential merchant network by connecting Binance Pay to DK Bank’s broader domestic payment infrastructure. For Bhutan, the development provides another way to connect its existing digital-payment system with cryptocurrency without requiring merchants to build separate crypto-payment systems.
Binance says local QR networks are driving payment adoption
Binance APAC Head SB Seker said the Bhutan rollout reflects the company’s broader approach of connecting crypto payments to existing local infrastructure.
“Integrating Binance Pay with Bhutan’s domestic QR network shows what real-world crypto adoption looks like when it’s built on infrastructure people already trust.”
Seker also pointed to Binance Pay’s reported global scale, saying the service has more than 21 million merchants and has processed over $321 billion in transactions since its launch in 2021.
He said Binance Pay integrations with local QR networks had processed about $40 million during their first year, with monthly volumes increasing at double-digit rates. Those figures are company-reported and were not independently verified in the announcement.
DK Bank sees crypto as an additional payment option
DK Bank Bhutan and Gelephu Mindfulness City Country CEO Ugyen Tenzin said the integration allows the bank to add crypto payments without replacing its existing QR infrastructure. “Integrating Binance Pay with our domestic QR network allows us to enhance the payment experience while maintaining the trusted payment infrastructure already in place.”
The bank described the initiative as part of Bhutan’s broader interest in financial technology and digital payments.
However, the rollout does not mean that all merchants in Bhutan now accept cryptocurrency. The payment option is available where DK Bank Domestic QR codes are accepted, and the transaction is eligible.
Crypto payments move beyond tourist pilots
The Bhutan rollout also shows a broader challenge for crypto payments: adoption depends not only on users holding digital assets but also on merchants having infrastructure capable of accepting them.
By connecting Binance Pay to an existing domestic QR network, the latest arrangement removes one potential barrier for merchants because they do not need to operate a separate crypto-payment terminal or QR system.
The practical question will be whether consumers actually use the option at scale.
For now, Binance Pay’s connection to DK Bank’s QR network gives crypto users a larger merchant footprint in Bhutan while allowing the country’s existing payment infrastructure to remain at the center of the system.
Also Read: Binance’s Yi He, CZ Warn of WeChat Groups Promoting Scams
