Bhutan Just Made Crypto Travel Easy—Thanks to Binance Pay

Bhutan unveils plans for a city where Bitcoin is accepted.

A new city, Gelephu Mindfulness, is set to embrace Bitcoin and cryptocurrency for everything, including payments, mining, and strategic reserves. The city is even creating its own token, connecting Bhutan to the world and offering a fascinating experiment in sustainable economic growth. This is a significant step towards Bhutan's embracing of cryptocurrency.

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If country pulls this off, they're gonna be the first nation to fully level up with crypto. Imagine paying for meditation in BTC. This is the beginning of creating a new world with cryptocurrency.

Partnership with Binance enables crypto payments nationwide.

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By allowing visitors to use BinancePay to make payments within the nation, Nation is demonstrating its commitment to cryptocurrency through its most recent partnership with Binance. Richard Teng, CEO of Binance, uses BinancePay rather than fiat money. And it's not shocking. A game-changer and a model for other nations.

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Exploring Bhutan with BinancePay highlights the seamless integration of technology in traditional settings.  The ability to make borderless payments in such cultural hubs is a testament to how digital finance is bridging gaps and fostering global connectivity. BinancePay partnered with country's DK Bank on May 7th, enabling customers with Binance accounts to utilize Bitcoin and other cryptocurrency assets to pay for flights, hotels, visas, Sustainable Development Fees, and even street-side snacks.

Over 1,000 merchants accept Binance Pay for tourism payments.

With more than 1,000 merchants already on board and no costs on Binance Pay in contrast to high fees from other providers, The himalayan Nation aims to create a tech-savvy, community-driven environment that is consistent with its ideals. Leading cryptocurrency adoption locally is DK Bank, which was instrumental in Bhutan's early bitcoin mining endeavors.

Bitcoin Mining Funds Bhutan’s Development

Bhutan mines BTC to finance government spending and make up for declining tourism earnings. They currently own 12,000 Bitcoin, which is the third-largest state hoard and accounts for 40% of its GDP. country's hydropower-backed Bitcoin mining model is reshaping the green state mining landscape. This shift from speculative adoption to strategic treasury management is being seen by more governments, particularly those with clean energy, as a hedge and revenue stream. However, each country faces unique regulatory and volatility risks, making it a unique and complex move.

Global Reactions to Bhutan’s Bold Move

Bhutan embraces crypto payments for tourists! With Binance , they're attracting visitors who spend 3x more. This isn't just tourism; it's a national pivot towards digital financial independence. While some still debate, Nation just served us the future on a silver platter. 40% of GDP in BTC and they’re not selling, they’re building generational wealth while most governments are still “studying” crypto.

Country's city project signals a significant shift towards sovereign crypto adoption, with the government and central bank embedding digital assets into daily life. Sustainable BTC mining funds public goods, over 1,000 merchants are onboard, and on-chain payments impact tourism, real estate, and banking. This could set a new regional benchmark for national crypto rollouts, potentially catalyzing South Asia's next phase of crypto adoption.