What licence did OxPay Financial secure in Bhutan?

OxPay Financial’s subsidiary Oxygen7 received a financial services licence in Gelephu Mindfulness City, Bhutan. This allows it to offer regulated payment and remittance services, including crypto payments and stablecoin-based transfers.

What services will Oxygen7 provide under this Bhutan licence?

Oxygen7 can offer merchant payment services accepting credit cards, e-wallets and cryptocurrencies, plus business remittances using stablecoins. The goal is faster and cheaper cross-border payments compared to traditional banking.

Why is Bhutan’s Gelephu Mindfulness City important for OxPay?

Gelephu Mindfulness City is a special economic zone designed to support digital finance and crypto innovation. This makes it a strategic launchpad for OxPay to test and scale its crypto payment solutions.

How does this move fit OxPay Financial’s overall strategy?

OxPay is shifting from building its crypto infrastructure to actively operating it, marking a key execution phase. The company also plans to expand its platform across South Asia after launching in Bhutan.

What industries is Oxygen7 targeting first?

Oxygen7 is focusing on tourism, hospitality, and businesses making overseas payments. These sectors rely heavily on cross-border transactions, making them ideal for stablecoin-based solutions.

How big is the opportunity for stablecoin payments in South Asia?

Stablecoin transaction volumes in South Asia reached about $300 billion in the first seven months of 2025. This suggests strong demand for faster, cheaper digital payment rails in the region.

Is this development bullish or bearish for OxPay Financial shares?

Strategically, it’s positive as it opens new revenue streams and markets. However, the share price fell to $0.04 after the announcement, suggesting investors may be cautious about execution risks or near-term profitability.

What are the key risks for OxPay Financial after this expansion?

Execution risk is high, including onboarding merchants and scaling operations in a new market. Regulatory changes and competition from other crypto payment providers could also impact growth.

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OxPay wins Bhutan licence for crypto payments

Written by Liezl GambePublished May. 4 2026Last Updated May. 7 2026

OxPay Financial’s subsidiary Oxygen7 has secured a financial services licence in Bhutan’s Gelephu Mindfulness City, allowing it to offer regulated payment and remittance services.

The licence enables Oxygen7 to provide merchant payment solutions accepting credit cards, e-wallets and cryptocurrencies, while also supporting business remittances using stablecoins for faster and cheaper cross-border transfers.

“Bhutan is where our crypto payment strategy moves from establishment to operation, and with Mr Peng leading Oxygen7, we have the right person to drive this next phase,”

Said Chin Mun Chung.

Oxygen7 will operate on an asset-light, non-custodial basis and partner with a crypto payment technology provider to deliver its services within the special economic zone.

The company is initially targeting tourism, hospitality and businesses making overseas payments, aiming to replace traditional banking channels with digital asset-based solutions.

The expansion comes as South Asia’s stablecoin transaction volumes reached $300 billion in the first seven months of 2025, highlighting strong regional demand. Following the announcement the OxPay Financial share price was down at $0.04.

Gelephu Mindfulness City is positioning itself as a digital finance hub, and OxPay plans to scale its crypto payment platform across neighbouring South Asian markets.