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Bitget explores licensed crypto presence in Bhutan
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- DeepHorus
Crypto exchange Bitget has signed an agreement with Bhutan’s Gelephu Mindfulness City Authority (GMC) to explore establishing a licensed local operation, marking the company’s latest move into a rapidly emerging digital asset hub. The deal could pave the way for Bitget to set up a legal presence in the $100 billion autonomous economic zone and prepare its application for a relevant financial services license. GMC, backed in part by Bhutan’s national Bitcoin reserves, aims to create high-value roles in finance, technology, and wellness.
The agreement comes just weeks after GMC appointed Canadian digital-asset manager 3iQ to manage a portion of its Bitcoin treasury, signaling a broader strategy to integrate crypto into the country’s development. According to the terms, 3iQ will manage an undisclosed share of Bitcoin allocated to support Gelephu’s growth, while also establishing a long-term presence and investing in local talent. Bitget’s involvement is expected to complement these efforts by contributing exchange infrastructure and technical expertise.
Under the memorandum, Bitget will collaborate with GMC authorities on regulatory compliance, local talent development, and knowledge transfer. The company aims to leverage its experience running one of the world’s largest crypto derivatives platforms to help build a compliant digital finance ecosystem. A formal license would allow Bitget to offer spot trading, custody, and other regulated services to residents and international clients within the special economic zone.
The impact of this partnership extends beyond Bitget’s business expansion. For Bhutan, it represents another step toward becoming a regional blockchain and digital-asset pioneer. For the broader crypto industry, it signals that exchanges are increasingly seeking regulated footholds in smaller, forward-thinking jurisdictions rather than relying solely on traditional financial centers. This trend could accelerate as more countries create tailored regulatory sandboxes for digital assets.
Industry reactions have been cautiously optimistic. Gracy Chen, CEO of Bitget, described GMC as “the emerging hotbed for digital finance” and said the exchange is excited to contribute its experience and infrastructure knowledge as the ecosystem grows. Analysts note that Bhutan’s proactive approach, combined with its existing Bitcoin reserves, makes it an attractive venue for crypto firms looking for legitimacy in a historically conservative region.
Looking ahead, Bitget will need to finalize its license application and meet GMC’s regulatory requirements, which could take several months. If approved, the exchange would join a small but growing list of licensed crypto operators in South Asia. Meanwhile, other exchanges are watching closely, as Bhutan’s experiment with mindfulness-based economic development could become a model for integrating digital assets into national strategy.
This move fits into a larger global pattern where crypto businesses are diversifying their geographic footprint to reduce regulatory risk and access new markets. With national Bitcoin holdings now influencing sovereign wealth strategies, Bhutan is positioning itself at the intersection of mindfulness and cryptocurrency, offering a unique environment that might just reshape how digital finance evolves in emerging economies.
