The Kingdom of Bhutan has officially launched TER, a sovereign gold-backed digital token, on the Solana blockchain. The token is issued through the Gelephu Mindfulness City (GMC) Special Administrative Region and is fully collateralized by physical gold reserves held securely by the nation.
Each TER token represents actual physical gold, aiming to combine the stability of the precious metal with the speed and efficiency of blockchain technology for global transfers. DK Bank, Bhutan's first digital bank, has been appointed as the exclusive distributor and custodian for the token during its initial launch phase.
The tokenization infrastructure linking the physical gold to the digital tokens is provided by Matrixdock. This initiative is a key component of Bhutan's broader national digital asset strategy, which includes several other significant blockchain projects. The Royal Monetary Authority of Bhutan previously partnered with Ripple to pilot a Central Bank Digital Currency (CBDC) for the ngultrum. Furthermore, the country has disclosed holding strategic cryptocurrency reserves, including over $536 million worth of Bitcoin. Bhutan is also in the process of migrating its National Digital Identity platform to the Ethereum blockchain, with completion expected by early 2026.
By launching TER, Bhutan aims to create a trusted, verifiable form of digital collateral that bridges traditional wealth storage with modern financial rails, offering features like instant settlement, global portability, and transparent collateral verification.
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