How Bhutan plans to boost its local economy with crypto tourism
Damcho Rinzin, the director of Bhutan’s Department of Tourism, said the sector has struggled because of its payment infrastructure.
The Kingdom of Bhutan is integrating cryptocurrency payments into its tourism infrastructure in a bid to modernize its economy and attract younger, tech-savvy travelers.
In a panel discussion during Binance’s Crypto-Powered Tour in Bhutan, Damcho Rinzin, the director of Bhutan’s Department of Tourism, told the audience that the country’s tourism sector has long struggled because of the country’s payment infrastructure.
On May 7, Binance Pay partnered with local bank DK Bank to let users pay for their expenses in Bhutan using crypto. During the panel discussion, DK Bank president Ugyen Tenzin said almost 1,000 merchants nationwide have been onboarded to accept the payment method.