Bitget has signed a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA), outlining plans to establish a presence in Gelephu Mindfulness City (GMC), Bhutan's emerging financial and innovation hub.
The agreement provides a framework for the exchange to establish a legal entity in GMC, prepare an application for a Financial Services Licence under the jurisdiction's regulatory framework, and work alongside local authorities on operational, regulatory and ecosystem development initiatives. Any future operations remain subject to regulatory approval.
“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.”
Bhutan expands its digital asset ambitions
Bhutan has attracted growing attention for its approach to digital assets, using its abundant hydropower resources to support environmentally powered cryptocurrency mining while exploring blockchain as part of a broader economic development strategy.
Gelephu Mindfulness City represents the next phase of that effort. Established as a Special Administrative Region in southern Bhutan, GMC aims to become an international center for financial services and innovation.
Financial and virtual asset businesses operating in or from the region are regulated under the Financial Services Act 2025 and related rulebooks. Companies seeking to provide regulated financial or virtual asset services must obtain a licence from the Gelephu Financial Services Office (GFSO).
Jigdrel Singay, Board Director of Gelephu Mindfulness City, said the project aims to build a regulated digital asset ecosystem supported by international expertise while developing local capabilities and long-term economic value.
Local presence and ecosystem development
Bitget said the cooperation extends beyond licensing and includes plans to contribute exchange expertise, market infrastructure knowledge and operational experience to GMC's developing digital asset ecosystem.
The company also intends to establish a local office and hire employees in Bhutan over time as part of its longer-term expansion plans, supporting talent development and knowledge transfer within the region.
Bhutan has previously signaled its interest in integrating digital assets into its economy through initiatives such as the Bitcoin Development Pledge, announced in late 2025, which emphasized responsible adoption supported by regulation, institutional participation and sustainable long-term growth.
U.Today Editorial Team
Dan Burgin
