Cryptocurrency exchange Bitget has signed a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA) to establish a local presence in Bhutan’s emerging financial and innovation hub, Gelephu Mindfulness City (GMC). The agreement outlines plans for Bitget to set up a legal entity in GMC, apply for a Financial Services Licence under the jurisdiction's regulatory framework, and collaborate with local authorities on operational, regulatory, and ecosystem development initiatives. Any future operations remain subject to regulatory approval.
Bhutan has gained attention for its forward-thinking approach to digital assets, leveraging abundant hydropower resources for environmentally friendly crypto mining and integrating blockchain into its economic development strategy. GMC, a Special Administrative Region in southern Bhutan, is designed as an international center for financial services and innovation. Under the Financial Services Act 2025, firms providing regulated financial or virtual asset services must obtain a licence from the Gelephu Financial Services Office (GFSO).
“Bhutan is approaching digital assets with a rare mix of long-term thinking, clean-energy advantage and regulatory clarity,” said Gracy Chen, CEO at Bitget. “GMC is the emerging hotbed for digital finance, and Bitget looks forward to contributing exchange experience, infrastructure knowledge and local talent development as this ecosystem grows.” Jigdrel Singay, Board Director of GMC, emphasized the goal of building a regulated digital asset ecosystem supported by international expertise while developing local capabilities and long-term economic value.
Bitget plans to contribute its exchange expertise, market infrastructure knowledge, and operational experience to GMC’s developing ecosystem. The company intends to establish a local office and hire employees in Bhutan over time, supporting talent development and knowledge transfer. This move aligns with Bhutan’s broader digital asset ambitions, including the Bitcoin Development Pledge announced in late 2025, which advocates responsible adoption with sound regulation, institutional participation, and sustainable long-term growth.
