According to Damcho Rinzin, Director of the Tourism Department, tourists arriving in Butane often faced difficulties in paying for services through the SWIFT International Payment System. The solution to this problem was found thanks to integration with the Binance Pay service, which allows travelers to use digital assets in calculations. Already, tourists are using cryptocurrency to buy goods and services from local suppliers, the number of which exceeded 1000.
The development of infrastructure and the promotion of crypto assets at the national level is engaged in the DK Bank financial institution. The head of the Bank Ugen Tenzin noted that the country has reached a high level of implementation of mobile payment decisions and QR codes, so cryptocurrencies are organically integrated into the existing financial system.
The launch and development of digital assets are directly related to the implementation of the large -scale project Geephu Mindfulness City – a city in which it is planned to combine blockchain technologies and the cultural features of Butan.
The financial director of the Hobeng Lim project said that virtual coins and distributed registers will become the basis of the new economic model of the kingdom. He clarified that at the moment a number of initiatives are being implemented related to blockchain platforms and cryptocurrencies. These technologies are officially considered as an important source of attracting external investments.
Earlier, the ARKHAM Intelligence analytical platform reported that the Kingdom of Butane accumulated bitcoins in the amount of $ 1.3 billion and took third place among countries with state reserves in the first cryptocurrency.
Source: Bits
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