Binance Pay Adds Crypto Payments at 3,700 Bhutan Merchants
Binance Pay now works at over 3,700 Bhutan merchants via DK Bank QR; customers enter prices in BTN, settlement occurs in USDT and fees waived through Dec. 31.
Binance has connected Binance Pay to DK Bank’s domestic QR network, enabling cryptocurrency payments at more than 3,700 merchants across Bhutan. The company announced the integration on Aug. 17.
Customers complete purchases by opening the Binance app, scanning a merchant’s existing DK Bank QR code and entering the amount in Bhutanese ngultrum (BTN). The app confirms the payment and automatically converts the local amount for settlement in Tether’s USDT stablecoin. Participating merchants do not need to replace QR codes or install new hardware.
Under a promotional offer, customers pay no additional fees and receive a competitive exchange rate through Dec. 31. The announcement does not identify which party provides the exchange rates or how any exchange spreads are calculated.
Settlement in USDT gives a single denomination for settlements after prices are entered in BTN. Stablecoins like USDT aim to maintain a peg to the U.S. dollar, but their stability depends on reserves, redemption arrangements, market liquidity and confidence in the issuer.
The launch expands a national tourism payment effort that began in May 2025 with more than 100 participating merchants. Binance said its local QR network processed about $40 million in its first year and that the company reported a global merchant footprint exceeding 21 million by March. The firm has used similar QR links elsewhere, including an Argentina connection launched in October 2025, and plans to roll the model out to at least 10 countries by the third quarter of 2026.
SB Seker, head of Asia-Pacific at Binance, called the integration a model for tourism-heavy markets: “Integrating Binance Pay with Bhutan’s domestic QR network shows what real-world crypto adoption looks like when it’s built on infrastructure people already trust.”
Ugyen Tenzin, DK Bank’s country CEO for Bhutan and Gelephu Mindfulness City, said the arrangement preserves the payment infrastructure merchants already use and brings modern payment options to visitors. He added, “We are proud to partner with Binance to bring cutting-edge crypto payment solutions to Bhutan’s merchants and visitors.”
The service applies to travel, lodging, dining and retail purchases wherever a DK Bank domestic QR code is displayed. The integration ties into Bhutan’s broader digital finance efforts, including initiatives linked to Gelephu Mindfulness City and financial services licensing that reference bank-account requirements.
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