Tourism crypto payment welcomes new vendors

Sherab Lhamo

The crypto payment system for international tourists is now open to new vendors, allowing more tourism businesses to offer cryptocurrency payment option.

This expansion follows the system’s launch on May 7, 2025, a partnership between global cryptocurrency company Binance and Digital Kidu (DK) Bank.

According to an official from the Gelephu Mindfulness City (GMC) office, interested vendors must first register with the Department of Tourism and then open an account with DK Bank. Once registered, DK Bank will verify their merchant status and activate the crypto payment option.

The system allows tourists to use Binance Pay, a secure and contactless payment solution, for various tourism services including the sustainable development fee, visas, hotel bookings, Drukair flights, and services from registered transport providers and tour guides.

The GMC official said that the DK Bank system facilitates seamless crypto payments for registered tourism merchants. It also features secure payment acceptance via Binance Pay, instant conversion of cryptocurrency to ngultrum or USD for merchants, low transaction fees, and faster settlements, the official added. Merchants also gain access to a growing network of tourists who prefer using crypto.

“Binance Pay handles the blockchain-based payment process for tourists, while DK Bank ensures that payments received in crypto are converted and paid-out into ngultrum or USD for local merchants,” the official said. A key advantage for tourists is the absence of gas fees, meaning they do not incur additional blockchain transaction fees typically associated with sending crypto between wallets.

This makes transactions cheaper and more convenient for visitors, the official said.

Currently, there are no specific limits for tourists using Binance Pay for tourism services, though standard merchant-level transaction limits and regulatory safeguards for anti-money laundering compliance apply.

For instance, a tourist booking a Drukair flight can use their Binance account with BNB, BTC, or other cryptocurrencies. During checkout, they select Binance Pay, scan a QR code via the Binance app, and the crypto payment is instantly converted into ngultrum or USD by DK Bank and settled to Drukair. Tourists pay only the Bhutanese ngultrum or USD equivalent of the fare, based on Binance’s real-time market rates.

According to the official, the initiative offers multi-faceted benefits to the government, including boosting tourism through convenient digital payments, supporting local businesses with easier access to digital transactions, ensuring regulatory compliance and oversight via DK Bank, and advancing the nation’s digital transformation agenda.

Currently, over 600 merchants have been onboarded to the system.

While crypto-related businesses remain restricted to GMC registered entities and their partners for now, there are plans for gradual expansion to include more tourism-related merchants. Future developments would be aligned with government policy and regulatory frameworks to explore broader use cases consistent with Bhutan’s digital economy vision.

“This partnership underscores Bhutan’s commitment to embracing digital innovation in a safe and responsible manner,” the official said. “With over 100 tourism merchants onboarded in just a few weeks, it demonstrates the transformative power of blockchain for both tourists and Bhutanese communities, positioning Bhutan at the forefront of this pioneering initiative in Asia.”