Bhutan Strikes Landmark Crypto Deal with Cumberland DRW—Himalayan Kingdom Goes Full DeFi

Bhutan just placed a billion-dollar bet on crypto's future—and Wall Street didn't see it coming.

The Himalayan kingdom inked a historic MOU with trading giant Cumberland DRW to build a sovereign digital asset ecosystem. No more mining Bitcoin with hydropower and praying for adoption—this is institutional-grade infrastructure hitting the Himalayas.

Details remain scarce (because when has a government ever over-communicated on crypto?), but insiders whisper about everything from CBDC pipelines to tokenized tourism revenue. One thing's clear: Bhutan isn't content being just a carbon-negative nation—it wants to be a ledger-positive one too.

Meanwhile, traditional finance bros are left scrambling to find Bhutan on a map. Bonus point: At least this sovereign wealth fund won't be investing in overpriced Manhattan office towers.

Partnership connects green energy with crypto liquidity

Gelay Jamtsho, the chairman of Green Digital, stated that the partnership merges Bhutan’s renewable energy infrastructure with crypto liquidity. His remarks highlight the country’s long-term approach to innovation grounded in real-world utility, governance, and sustainability. Green Digital Ltd., which leads the project, is a crypto infrastructure firm developing green energy-powered data centers to support Bhutan’s long-term blockchain sustainability goals.

Meanwhile, the founder of DRW, Donald Wilson, also noted that the country’s emphasis on sustainable development makes it the ideal partner for SAFE crypto innovation. The Bhutan-Cumberland partnership is expected to further boost institutional participation, supporting long-term economic growth.

“From Gelephu Mindfulness City, we are committed to building a responsible, well-governed digital asset hub that supports Bhutan’s broader sustainable development and diversification agenda.”

-Gelay Jamtsho, Chairman of Green Digital Ltd.

Bhutan will be building on its track record as a capable and thoughtful adopter of crypto infrastructure under the MOU, according to Jamtsho. The country is among the first sovereign Bitcoin miners to utilize green hydropower. Data retrieved from CoinGecko confirms that it currently ranks fifth among governments holding BTC. Bhutan currently holds 5,984 BTC, worth approximately $515.7 million, representing a 3.99% decrease.

Bhutan tokenizes gold reserves on Solana

Bhutan recently launched a Solana-based token, currently issued through Gelephu Mindfulness City. The country’s physical Gold reserve backs it. 

The TER token can be acquired directly through its official custodian and distributor, DK Bank. It is designed to expose traders to the traditional buying of physical gold. 

Bhutan’s GMC partnered with Matrxdock to pioneer the gold tokenization initiative. Matrixdock recently obtained a Financial Services license from the GMC Authority (GMCA) through its parent company, Matrixport. 

Meanwhile, HB Lim, the managing director (Financial Services) at GMCA, stated that the GMC aims to establish a blockchain-centered hub for crypto assets. He added that the country’s regulatory clarity is its competitive advantage. 

Lim emphasized that the licensing and appointment of Matrixdock as the tokenization technology provider for TER will help advance the country’s discussions with other crypto companies. Yudong Zheng, the CEO of DK Bank, also stated that Bhutan’s mission is to provide reliable and user-friendly access to a combination of traditional and crypto financial services. 

Meanwhile, the DK Bank executive believes that the infrastructure Matridock builds will be vital for Bhutan’s crypto-related operations. Eva Meng, the head of Matrixdock, also agreed that the partnership aims to boost the country’s image as a model for crypto innovation grounded in real-world value.

The announcement of Bhutan’s gold tokenization came just days after Kyrgyzstan launched its gold-backed, U.S. dollar-pegged USDKG stablecoin. The initial issuance was about $50 million. The initiative marked Central Asia’s first government-supervised crypto project. It demonstrates a trend among small countries to integrate traditional assets with regulated crypto.  

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