As blockchain adoption spreads across the globe, one of the world’s most remote nations is exploring its potential to elevate collective well-being — not just profits.
During a recent visit to Bhutan, Binance CEO Richard Teng expressed strong support for the kingdom’s decision to integrate digital assets into its broader national philosophy.
Bhutan, famous for measuring progress through Gross National Happiness (GNH) rather than GDP, may seem like an unlikely candidate for rapid crypto adoption. However, Teng sees a natural alignment. Speaking at a panel in Thimphu, he argued that decentralized finance could help the country advance its long-standing commitment to holistic development, especially through economic empowerment in underserved regions.
The GNH model, first introduced by Bhutan’s monarchy in the 1970s, is rooted in spiritual values and emotional well-being. While some view crypto’s fast-paced and volatile nature as contradictory to that ethos, Bhutan’s leaders see digital finance as a means to bolster resilience, autonomy, and even national pride.
Behind the scenes, Bhutan has been quietly building a significant crypto presence. It ranks among the top state Bitcoin holders globally, with over 13,000 BTC reportedly in reserve. The government has also embraced hydro-powered mining and partnered with Binance to enable crypto-based tourism payments — an initiative designed to attract capital without compromising cultural integrity.
Teng praised the kingdom’s openness to blockchain technology, emphasizing that financial tools don’t need to conflict with societal values. “Crypto can be a tool for empowerment,” he said, noting its role in lifting individuals out of economic exclusion, particularly in regions lacking robust financial infrastructure.
While challenges like inconsistent internet access remain, Bhutan’s foray into crypto marks a bold step toward redefining progress on its own terms — one where digital innovation meets traditional values in a uniquely Bhutanese way.
