The Royal Monetary Authority of Bhutan is set to pilot a central bank digital currency (CBDC) version of the Ngultrum, in collaboration with American fintech firm Ripple. The trial will run in select government and retail hubs across Thimphu and Paro.
The initiative aims to modernize Bhutan’s financial system, enhance rural banking access, and curb cross-border remittance dependency. Officials say a successful trial could lead to full-scale rollout by 2026.
Digital payment analysts in India and Nepal are closely watching the experiment, especially as UPI-like systems expand across borders and discussions of a regional payment grid gain momentum.
