Bhutan has taken a significant step in its national blockchain strategy by introducing TER, a gold-backed digital token developed in partnership with Gelephu Mindfulness City and supported by the country’s sovereign framework. The initiative positions the Himalayan kingdom among a select group of nations exploring tokenized government assets, merging traditional stores of value with modern digital finance.
The announcement outlined that TER would operate on the Solana blockchain and be issued and maintained by DK Bank, described as Bhutan’s first fully licensed digital bank. During the initial rollout, investors will be able to purchase TER directly from DK Bank in a process modeled on traditional gold acquisition. However, unlike conventional ownership structures, the new token offers complete traceability through blockchain records, a feature intended to make tokenized gold more accessible and mobile for global investors.
Gelephu Mindfulness City at the Center of Bhutan’s Digital Vision
TER has been presented as a flagship development for Gelephu Mindfulness City, a special economic zone designed to attract foreign investment and expand Bhutan’s technology-driven economy. The project is aligned with Bhutan’s long-term vision to incorporate advanced digital solutions in ways that support cultural values and sustainability priorities. By leveraging tokenized assets, the kingdom aims to broaden economic participation and strengthen its emerging digital ecosystem.
The launch of TER also places Bhutan in the company of countries experimenting with tokenized state-backed assets. Kyrgyzstan recently introduced USDKG, a gold-pegged digital token managed directly by its government, illustrating a broader regional and global shift toward adopting blockchain-supported sovereign instruments.
Expanding Bhutan’s Broader Digital Finance Agenda
The introduction of TER adds to Bhutan’s expanding portfolio of digital initiatives. Ongoing national efforts include exploring the integration of digital assets into government reserves, developing blockchain-based identity systems, enabling cryptocurrency-based payments, and using excess hydropower capacity to support Bitcoin mining operations. Collectively, these initiatives highlight Bhutan’s ambition to strengthen its economy through digital modernization while maintaining adherence to environmental and cultural principles.
Gelephu Mindfulness City is launching TER, the world’s first sovereign-backed, physical gold-backed digital token, on Dec 17, 2025. Built on Solana, issued via DK Bank, and powered by Matrixdock tech, TER brings Bhutan’s “Treasure” on-chain with full transparency.… pic.twitter.com/HmJVGh4qPB
— gmcbhutan (@gmcbhutan) December 11, 2025
Interest in tokenizing traditional assets has been surging worldwide. Earlier this week, Singapore saw the launch of a tokenized gold fund developed by Libeara with backing from SC Ventures, the innovation arm of Standard Chartered. Market analyses reflect similar momentum. A report from Animoca Brands projected that real-world asset tokenization could open access to a substantial portion of the global traditional finance market, which the firm estimated at around $400 trillion. Meanwhile, findings from the Skynet RWA Security 2025 report suggested that the tokenization industry could reach a valuation of approximately $16 trillion by 2030.
Blending Tradition With Technological Innovation
With the release of TER, Bhutan is carving out a unique role in the expanding global tokenization landscape. The initiative ties the country’s long‐standing reliance on gold as a secure asset to a cutting-edge digital framework, offering a blend of tradition and innovation that aligns with Bhutan’s broader economic goals. As global interest in real-world asset tokenization builds, Bhutan’s entry into the sector underscores its growing presence as a leader in government-backed blockchain experimentation and digital asset development.
