Bhutan Embraces Crypto Payments Despite Connectivity Gaps
Jun 30, 2025
Cointelegraph is in the Kingdom of Bhutan to check the state of crypto adoption in the eastern Himalayan country
In a land where ancient monasteries overlook misty mountains, cryptocurrency is quietly becoming part of everyday life
During the Binance Crypto Powered Tour in the Kingdom of Bhutan, Cointelegraph traveled across Bhutans capital city of Thimphu and the popular cultural and tourism district of Paro to gauge grassroots interest in crypto
At Changyul Park and a local four star hotel, Cointelegraph witnessed firsthand how tourists and locals pay with crypto only months after crypto exchange Binance rolled out crypto payments in the country
On May 7, Binance Pay partnered with Bhutans DK Bank to allow users with Binance accounts to pay for flights, hotels, visas, Sustainable Development Fees, and even street side snacks using Bitcoin and other crypto assets
DK Bank president Ugy Gelephuin said almost 1000 merchants had signed up to accept crypto as part of the program
Bhutanese citizens are only starting to learn about crypto
While crypto payments are on the rise, much of Bhutans economy remains cash based, local tour guide Kuenley Dorjee told Cointelegraph
He said that people are only starting to wrap their heads around what crypto means, but are eager to embrace digital transformation
It is a lot easier to use and the fees are better Dorjee said He praised the adoption of crypto in the country and credited Bhutans monarch King Jigme Khesar Namgyel Wangchuck for encouraging innovation
Bhutans progressive crypto stance has unfolded under Jigme, the country's current Druk Gyalpo which translates to Dragon King. During his reign, Bhutan has implemented state backed projects like hydro powered Bitcoin mining and accumulated crypto holdings exceeding 12000 BTC
In 2023, local reports revealed that Bhutan had been mining BTC with hydropower since 2019 when Bitcoins price was around 5000. On Jan 8, Bhutans Gelephu Special Administrative Region SAR also known as Gelephu Mindfulness City GMC, revealed plans to set up a strategic crypto reserve
Internet instability is a crypto adoption roadblock
Despite growing interest, unstable internet connectivity remains a key challenge Cointelegraph encountered inconsistent WiFi connection speeds in Paro and Thimphu Other crypto tour participants reported similar experiences
Local Reddit discussions also highlighted the countrys internet connectivity issues One Reddit user described the internet connection in Bhutan as horrendously slow tedious and requires all the patience in existence
With crypto payments requiring stable internet connections, connection issues may lead to disruptions when paying with digital assets
On a hopeful note, satellite internet provider Starlink launched in the country on Feb 17 according to the local Bhutan Broadcasting Service This may address the connection issues potentially delivering speeds of 100 to 200 Mbps to the region
In a roundtable discussion with the media, Ugy Gelephuin said that the advent of Starlink was a blessing for the country as speed is important with crypto payments The DK Bank executive said while they are not quite there yet in terms of infrastructure the country is on the right track
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