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Bhutan Embraces Digital Assets: TER Token Bridges Gold and Crypto
Bhutan has taken another bold step in its multi-year blockchain adoption strategy, unveiling a gold-backed digital token named TER. Launched on Solana’s blockchain, TER represents physical gold held in custody and is issued by Gelephu Mindfulness City (GMC), a designated Special Administrative Region within Bhutan.
According to experts, while the token is designed for a specific use case within GMC, it signals the Kingdom’s vision to align with stablecoin ecosystems, with gold chosen as a neutral and reliable backing asset. DK Bank, Bhutan’s first digital bank regulated by the Royal Monetary Authority, will serve as the exclusive distributor and custodian for TER, whose name derives from the Dzongkha word for “treasure.”
Tokenization Infrastructure and Institutional Custody
The tokenization infrastructure will be provided by Matrixdock, a digital asset financial services platform licensed by GMC. Users will be able to acquire TER directly through DK Bank in the first phase, with institutional custody ensuring security and trust.
GMC board member Jigdrel Singay highlighted the broader goal: issuing sovereign-backed digital tokens demonstrates how a crypto-friendly city can embrace innovation while staying rooted in Bhutan’s values of transparency, sustainability, and long-term stewardship.
Bhutan’s Growing Crypto Footprint
Bhutan has been a crypto pioneer in the region, with Bitcoin mining operations launched in 2019 powered by its abundant hydroelectric resources. The nation holds 5,984 BTC, valued at over $536 million, ranking as the seventh-largest sovereign Bitcoin holder globally. Earlier this year, GMC announced plans to hold Bitcoin, Ethereum, and Binance’s BNB as part of its strategic reserves.
In addition, Bhutan has expanded crypto payments via Binance Pay, integrating over 100 cryptocurrencies across tourism services and more than 100 local merchants. The country also became the first to anchor population-scale identity systems on a public blockchain, with over 800,000 citizens expected to access cryptographically verifiable credentials by 2026.
A Glimpse Into the Future
Experts believe that gold is just the first chapter. Future plans may include silver, rare stones, or tokenized cultural and environmental assets, allowing Bhutan to monetize resources responsibly without extraction, maintaining its long-standing view of natural resources as sacred.
