BTSE Bhutan has secured a Financial Services License from the Gelephu Financial Services Office, the financial regulator of the Gelephu Mindfulness City Special Administrative Region in Bhutan. The license, announced on September 29, 2026, follows an In-Principle Approval received in April 2026 and confirms that the company has satisfied all pre-conditions stipulated by the regulator.
Under the license, BTSE Bhutan is authorized to operate a multilateral trading facility for the exchange of virtual assets and provide institutional-grade custody services for the safeguarding and storage of virtual assets. The company will begin onboarding users in the coming weeks, with spot trading services launching initially for the BTC/USDT and ETH/USDT trading pairs. Additional crypto trading pairs will be introduced in subsequent phases under the platform's listing framework and regulatory requirements. Fiat on-ramp and off-ramp services for US dollars are planned for a later stage, and all client assets will be held under the licensed custody arrangements.
“Receiving our Financial Services License is a major milestone as we plan to launch our retail trading platform globally,” said Yew Chong Quak, CEO of BTSE Bhutan. “Our priority now is to launch Bitcoin and Ethereum trading services, expanding our offerings step by step, and holding ourselves to the highest standards of compliance and security as we build a virtual asset ecosystem that GMC can be proud of.”
BTSE Bhutan has appointed key personnel and is building out its presence in Gelephu, with plans to establish a local office and hire local talent over time.
