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Bhutan is pushing forward with its nationwide blockchain technique with the launch of TER, a gold-backed sovereign token constructed on the Solana blockchain.
The token is issued by the Gelephu Mindfulness Metropolis (GMC) Particular Administrative Area and is designed to hyperlink conventional shops of worth with blockchain-based finance, an announcement stated.
The token will probably be issued and custodied by way of DK Financial institution, which is Bhutan’s first digital financial institution regulated by the Royal Financial Authority. In the course of the first section of the token’s rollout, customers will have the ability to buy TER instantly by way of DK Financial institution.
“By issuing gold-backed digital tokens with sovereign branding, we’re demonstrating how a crypto-friendly metropolis can welcome accountable innovation whereas staying rooted in Bhutan’s values of transparency, sustainability, and long-term stewardship,” stated Jigdrel Singay, a GMC board director.
The digital asset monetary companies platform Matrixdock, which obtained the Monetary Companies License from the Gelephu Mindfulness Metropolis Authority in September, will present the tokenization infrastructure for the challenge.
🇧🇹 We’re breaking new floor. Bhutan’s Gelephu Mindfulness Metropolis (@gmcbhutan) has launched TER, a sovereign gold-backed digital token powered by @Matrixdock’s industry-leading tokenization know-how.
Our group is proud to assist the Kingdom in constructing next-generation… pic.twitter.com/w5Qd4sV2Qu
— Matrixdock (@matrixdock) December 11, 2025
Uptake for the token is anticipated to be restricted since “it’s for a selected use case within the GMC,” in accordance with Finstep Asia founder and managing director Musheer Ahmed. Nonetheless, Ahmed nonetheless believes that the token’s launch indicators Bhutan’s “imaginative and prescient to align with stablecoin ecosystems.”
Bhutan Continues To Construct On Its Nationwide Blockchain Technique
The TER token launch builds on Bhutan’s nationwide blockchain technique. That began again in 2019 when the nation launched its personal Bitcoin mining operations utilizing its considerable hydroelectric assets.
Knowledge from Bitcoin Treasuries reveals that Bhutan has acquired 5,984 BTC valued at over $541 million at present costs.
In 2025, Bhutan has ramped up its efforts. In Might, the federal government rolled out a national-level crypto fee system that makes it potential for vacationers to pay for companies resembling visas, journey, in addition to carry out native purchases utilizing numerous digital property.
That crypto fee system has gained substantial traction, with over 1,000 distributors now collaborating on the community.
In October, Bhutan additionally began migrating its nationwide digital identification system to the Ethereum blockchain. This was a world first for self-sovereign digital IDs.
Bhutan has deepened its blockchain integration with an Ethereum staking initiative as properly this yr.
Digital Belongings Designed To Keep Worth Surge
The TER token launch comes amid a world surge in digital property designed to keep up secure and predictable worth. Whereas TER is backed by gold somewhat than a fiat foreign money, it may be seen as a part of a broader pattern towards tokenized shops of worth and stablecoins.
Momentum for the sector obtained a lift in July when US President Donald Trump signed the GENIUS Act into regulation, offering regulatory readability for stablecoins, encouraging main establishments within the US to enter the market.
In consequence, the full stablecoin market cap surpassed $300 billion this yr, in accordance with DefiLlama, with Tether’s USDT and Circle’s USDC persevering with to dominate.
Stablecoin market cap (Supply: DefiLlama)
Gold-backed digital tokens have additionally gained traction, pushed partly by rising commodity costs. The tokenized gold market is now valued at greater than $4.1 billion, in accordance with CoinGecko, with Tether Gold representing the biggest share.
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