Bhutan Embraces Crypto to Boost Tourism and Build a Digital Economy

Bhutan is rapidly embracing cryptocurrency to modernize its financial system, attract high-value tourists, and establish a digitally resilient economy. During the "Digital Bhutan" panel co-hosted by Binance, government officials outlined a bold vision: integrate crypto into everyday life.

Damcho Rinzin, director at Bhutan’s Department of Tourism, highlighted a major pain point for visitors: limited international payment options. “Tourists complain they can’t use SWIFT or pay easily. Binance Pay fixes that,” Rinzin said. Visitors are already using crypto for purchases — even groceries.

With an annual target of just 300,000 visitors, Bhutan is focused on quality over quantity. Binance Pay’s 40 million+ user base is seen as a growth lever. Binance CEO Richard Teng described the initiative as a shift from speculation to real-world infrastructure. “This is the first national crypto payments system. Crypto tourists spend nearly $1,000 — three times more than average — and merchants enjoy instant settlements,” Teng explained.

More than 1,000 local merchants now accept crypto through Binance Pay, with zero transaction fees compared to high costs from traditional providers. DK Bank, an early player in Bhutan’s bitcoin mining efforts, is now leading grassroots adoption. “Mobile and QR payments are already high. Crypto just fits,” said CEO Ugyen Tenzin.

Hobeng Lim, managing director of finance at Gelephu Mindfulness City — a planned smart city blending technology, culture, and sustainability — confirmed that Bhutan sees digital assets as a foundational industry. “This is just the start,” Lim stated, noting that more blockchain-native projects are in development and digital assets are officially recognized as a future economic pillar.

“Crypto is not a side experiment. It’s a core industry,” Lim affirmed.