Bhutan is advancing cryptocurrency adoption through Binance Pay, enabling payments in Bitcoin (BTC), Binance Coin (BNB), and Tether (USDT) across key economic sectors including tourism and hospitality. The initiative, developed in collaboration with local financial institution DK Bank, aims to modernize the nation’s payment infrastructure.
Local communities are driving this transition, with early adopters like tour guide Kuenley Dorjee embracing the technology. The initiative also benefits from high-level endorsement, with King Jigme Khesar Namgyel Wangchuck actively supporting blockchain integration to boost economic innovation.
Significant challenges persist in urban centers such as Paro and Thimphu, where unreliable internet connectivity hampers seamless transaction processing. Merchants and tourists frequently encounter disruptions during crypto payment attempts.
Potential relief is anticipated through Starlink’s upcoming deployment, which promises to elevate internet speeds to 100-200 Mbps. This enhancement is expected to catalyze digital finance growth across the mountainous terrain.
Separately, Bhutan leverages its hydroelectric resources for environmentally sustainable Bitcoin mining. Operational since 2019, these aligned mining activities have contributed over 12,000 BTC to state reserves while supporting national carbon-neutral objectives.