Bhutan is adding many cryptocurrencies to its reserves.

The Gelephu Mindfulness City region of Bhutan has taken a pioneering step in financial innovation by including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This strategic move aims to strengthen the region's digital asset ecosystem and enhance its economic resilience. Supported by new legal frameworks, this initiative seeks to position Bhutan as a leader in the cryptocurrency space.

Gelephu's Crypto Move: Digitizing Bhutan's Economy

Located in southern Bhutan, Gelephu Mindfulness City (GMC) announced an important step in its economic development plans by incorporating cryptocurrencies into its official reserves. According to a statement made on January 8, 2025, the regional administration has added leading digital assets such as Bitcoin, Ethereum, and Binance Coin to its economic reserve portfolio.

The decision of GMC, which stands out with its proximity to the emerging economies of South Asia, was shaped within the framework of the "2024 Implementation Law." The regional administration emphasized that the inclusion of digital assets in reserves is a significant part of their financial strategies.

This initiative is seen as the next phase of Bhutan's experiences in the cryptocurrency field. The country allocated 5% of its gross domestic product to Bitcoin mining in May 2023 and has continued these investments. By November 2024, with the increase in the value of its crypto assets, Bhutan's Bitcoin holdings reached 1 billion dollars.

The GMC administration will discuss the role of digital assets in strategic reserves at an international meeting it will hold in March. High-level government officials and industry representatives from around the world are expected to attend the meeting. The region aims to enhance transparency and security in cryptocurrency transactions by utilizing blockchain technology.