The Kingdom of Bhutan has entered a strategic, multi-year partnership with cryptocurrency market maker Cumberland DRW, formalized through a Memorandum of Understanding (MoU). The core objective is to support Bitcoin reserve management within the Gelephu Mindfulness City (GMC), a special administrative region designed to integrate technology and sustainable development.
The collaboration, guided by the vision of His Majesty King Jigme Khesar Namgyel Wangchuck, aims to build a responsible digital asset ecosystem. Key focus areas include developing sustainable digital asset infrastructure, exploring the creation of a national stablecoin, and fostering local talent through hiring and expert deployment in the GMC.
This initiative deepens Bhutan's existing crypto strategy. Earlier in January, GMC integrated Bitcoin, Ethereum, and Binance Coin into its reserves to promote blockchain innovation. The country has also deployed its National Digital Identity system on Ethereum and has plans to launch TER, a sovereign digital token backed by physical gold reserves, on the Solana blockchain on December 17.
According to Jigdrel Singay, board director of Gelephu Mindfulness City, the partnership will establish Cumberland's presence in the region and create jobs for locals. The move is seen as aligning with Bhutan's Gross National Happiness (GNH) model, emphasizing economic resilience and collective well-being over mere growth.
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