RBI Grade BNABARD ESISEBI
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Context:
Bhutan has become the first country globally to launch a national-level cryptocurrency payment system for tourism, in partnership with Binance Pay, a subsidiary of Binance Holdings Ltd, and DK Bank, Bhutan’s first fully digital bank.
Key Features of the Crypto Tourism Payment System
- Cashless Travel Experience
- Tourists can pay using 100+ cryptocurrencies, including Bitcoin (BTC), Binance Coin (BNB), and USD Coin (USDC)
- Payments accepted for:
- Airline tickets
- Tourist visas & SDF
- Hotel bookings
- Monument entry
- Tour guides
- Local shopping
- QR Code-Based Transactions
- Utilizes static and dynamic QR codes for real-time payments
- Eliminates need for card terminals or cash
- Automatic Currency Conversion
- Crypto payments are instantly converted to Bhutanese Ngultrum (BTN)
- Handled by DK Bank, ensuring stable payouts to merchants
- Promotes Financial Inclusion
- Adopted by 100+ Bhutanese businesses, including remote and rural vendors
- Enables participation in the $3 trillion global cryptocurrency market
About Binance Pay
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A crypto payment platform by Binance Holdings Ltd, the world’s largest cryptocurrency exchange by trading volume, supporting secure, gas-free transfers and payments.
