Bhutan Goes All-In on Crypto: First Country to Accept Digital Coins for Tourism!

Binance Pay and DK Bank Team Up for Revolutionary Payment System

Hold onto your hats, crypto fans! Bhutan, the hidden gem of south-central Asia, just made history by becoming the first nation to roll out a nationwide crypto payment system for tourists. They've teamed up with Binance Pay and DK Bank to bring this game-changing move to life, and Binance is calling it the world's first of its kind!

Imagine this: you're a traveler with a Binance account, ready to explore the breathtaking landscapes of Bhutan. Now, you can pay for your entire journey using crypto - from your airline tickets and visa fees to your hotel stays, monument visits, tour guides, and even that juicy fresh fruit you grab from a roadside stall. It's all possible, thanks to this groundbreaking initiative announced on Wednesday.

Over 100 local merchants have already jumped on the crypto bandwagon, though we're still waiting to hear which specific businesses are on board. But one thing's for sure: visitors can easily pay by scanning those handy QR codes through the Binance app. And get this - they support over 100 cryptocurrencies, including Bitcoin and USD Coin. While tourists spend their digital coins, merchants still get paid in good ol' local currency, thanks to DK Bank, Bhutan's digital bank, which is licensed by the Royal Monetary Authority of Bhutan and handles all the transaction settlements.

Binance CEO Richard Teng couldn't contain his excitement, saying the company is proud to be a part of this revolutionary move. "We're setting a precedent for how technology can bridge cultures and economies," he declared.

But wait, there's more! Just last month, Bhutanese Prime Minister Tshering Tobgay threw his support behind state-backed Bitcoin mining, calling it "a simple strategic choice that many people have made and earned billions of dollars." He even went as far as to say that "governments should do it [crypto mining]." It's no secret that Bhutan is facing some economic challenges, with high youth unemployment and a growing number of skilled workers leaving the country. In 2022 alone, over 10% of the educated population packed their bags and emigrated.

Now, here's the juicy part: while the exact size of Bhutan's BTC holdings remains a mystery, blockchain analytics firms are buzzing with speculation that it could be worth a whopping $600 million - that's about 30% of the country's entire GDP! Talk about a hidden treasure in the world of crypto.