Bhutan Launches Crypto Payment System for Tourism

Bhutan, recognized for its involvement in cryptocurrencies like Bitcoin, has introduced a tourism crypto payment system in collaboration with Binance Pay and DK Bank. The system enables Bhutan travelers with Binance accounts to use over 100 different crypto assets, including Bitcoin, USDC, and BNB, to pay for services such as tickets, hotel stays, and tour guides. This initiative also provides a payment gateway for Bhutan businesses to accept crypto payments through a QR code on a phone. The partnership aims to support small businesses in Bhutan, allowing even remote vendors and artisans to accept crypto payments. Tourists can now pay for services without the need for local currency or cash, making it convenient for international travelers. Bhutan's embrace of digital assets is further demonstrated by its strategic crypto reserve and investments in Bitcoin. Despite its crypto-friendly stance, Bhutan's cryptocurrency regulations remain uncertain, as highlighted by the warning issued by the Royal Monetary Authority in 2020 regarding the Pi cryptocurrency. Read more AI-generated news on: https://app.chaingpt.org/news