From Our CEO: Bhutan’s Crypto Vision – Pioneering a Future Built on Trust
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Key Highlights

  • Binance CEO Richard Teng shares insights from his transformative visit to Bhutan, a nation leading the way in crypto adoption.
  • Bhutan is the first country to launch a national crypto payments system, powered by Binance Pay and embraced by merchants.
  • Crypto aligns with Bhutan’s Gross National Happiness philosophy, fostering financial inclusion and efficient, cost-effective systems.
  • Binance is committed to supporting Bhutan’s vision with secure infrastructure, education, and practical crypto solutions.

I recently visited Bhutan, a nation renowned for its breathtaking landscapes and commitment to Gross National Happiness. Beyond its serene beauty, I was struck by Bhutan’s bold and visionary approach to cryptocurrency. The country’s leadership is driving national-scale crypto adoption with clarity and purpose, setting a global precedent.

As a platform trusted by over 280 million users worldwide, Binance is proud to partner with Bhutan to power its pioneering national crypto payments system. This is just the start of an exciting journey toward a crypto-enabled future.

A Global First: National Crypto Payments System Bhutan has achieved a historic milestone as the first nation to implement a nationwide crypto payments utility. Powered by Binance Pay, this system allows travelers to use cryptocurrency to book hotels, pay for meals, and shop locally with ease. Merchants benefit from instant, mobile-friendly transactions, seamlessly integrated into Bhutan’s existing financial ecosystem.

With over 95% of Bhutanese merchants already using mobile payments, adopting Binance Pay is a natural evolution. The nation aims to onboard over 1 million users—tourists and locals alike—into this system, a bold goal for a country of fewer than 800,000 people. This infrastructure-driven ambition showcases Bhutan’s forward-thinking approach, enabling secure, borderless payments for all.

A Holistic Crypto Strategy Bhutan’s crypto vision is remarkably comprehensive. It is the only sovereign nation actively mining bitcoin, leveraging its abundant green hydropower. Additionally, Bhutan ranks among the top five countries globally for sovereign bitcoin holdings. Beyond mining, the country is building a robust blockchain ecosystem, from payments to innovation hubs.

This convergence of vision, sustainable energy, and execution is extraordinary. Under the leadership of His Majesty the King, Bhutan is harnessing innovation as a driver of national progress, creating systems that prioritize utility and inclusivity.

Crypto and Gross National Happiness At first, cryptocurrency might seem at odds with Bhutan’s philosophy of Gross National Happiness. However, my visit revealed a natural synergy. Bhutan’s definition of happiness emphasizes equitable access to meaningful systems, and crypto delivers just that.

The national crypto system reduces remittance costs, lowers transaction fees, and expands access to digital infrastructure, particularly in Bhutan’s remote, mountainous regions. This fosters financial inclusion, empowering Bhutanese citizens and enhancing economic participation.

I also had the privilege of meeting the team behind Gelephu Mindfulness City, a visionary project blending sustainability, urban innovation, and blockchain technology. Their goal is to create a native blockchain ecosystem that supports secure commerce, fosters innovation, and aligns with Bhutan’s cultural and regulatory values.

Binance’s Role in Bhutan’s Vision Crypto-friendly destinations attract longer-staying, higher-spending travelers, a trend already evident in regions like Southeast Asia and Europe. Bhutan is uniquely positioned to capitalize on this through crypto-enabled tourism.

Binance supports this vision with Binance Pay, an intuitive and secure tool that simplifies crypto transactions for users and merchants alike. Our commitment to transparency, regulatory compliance, and robust infrastructure makes us a trusted partner for Bhutan’s ambitious goals. We’re excited to empower digital nomads, tech-savvy travelers, and local businesses with tools that make crypto accessible and practical.

Looking Ahead Bhutan’s crypto journey is more than a national initiative—it’s a global model. It shows what’s possible when bold leadership, clear values, and a focus on long-term utility come together.

To Bhutan’s people and leaders: thank you for your warm hospitality and trust. Your vision is inspiring, and Binance is honored to support it. Together, we’ll build a future where crypto empowers communities and drives meaningful progress.