Binance Pay collaborates with Bhutan’s DK Bank in the first-ever national-level crypto tourism payment initiative.
Announced on May 7, Binance Pay has collaborated with Bhutan’s fully digital DK Bank to allow Binance account holders to travel to the country cashless. Tourists can instead use crypto to pay for everything from flights and visas, to hotels and local goods.
“We are excited to partner with Bhutan as we are not only advancing the use of cryptocurrencies in travel but also setting a precedent for how technology can bridge cultures and economies,” said Richard Teng, CEO of Binance.
“This initiative exemplifies our commitment to innovation and our belief in a future where digital finance empowers global connectivity and enriches travel experiences.”
This is the first time a tourism product has accepted crypto payments nationally. And it will not just be those travelling to the country who benefit from the speed, security and convenience of crypto, but also the local economy.
The initiative aims to help merchants overcome barriers to adopting digital payments, such as high transaction costs and limited merchant acceptance. Binance stated this method of payment offers lower transaction fees and near-instant settlements, as well as real-time notifications.
Binance users can pay in over 100 cryptocurrencies, including BNB, BTC and USDC, while local merchants can complete transactions using QR codes. This means businesses in some of the most remote parts of the country can benefit from tourism, as noted by Damcho Rinzin, Director of Bhutan’s Department of Tourism
“This is more than a payment solution – it’s a commitment to innovation, inclusion, and convenience,” he said. “It enables a seamless experience for travellers and empowers even small vendors in remote villages to participate in the tourism economy.”
Unlocking tourism through payments
Payments are a key pillar in any country’s tourism strategy, whether attempting to improve travellers’ experiences or help local businesses make the most of potential customers.
İşbank, Turkey’s largest private bank, expanded its partnership with Alipay+ in December 2024, seeking to improve the travel experience for international visitors. This saw İşbank enable payments through Alipay+ at over 500,000 POS terminals across Turkey, including Unifree Duty Free at Istanbul Airport.
This partnership honed in on visitors from across Asia, supporting 12 e-wallets and mobile partners, including Alipay (China), AlipayHK (Hong Kong), Touch ’n Go (Malaysia), GCash (Philippines), OCBC Digital (Singapore), TrueMoney (Thailand), Tinaba (Italy) and Toss Pay (South Korea).
However, Bhutan’s initiative casts the net wider by allowing any international visitor to participate if they hold a Binance account.
