Bhutan Debuts Gold-Backed TER Token On Solana Blockchain

Home / News / Bhutan Debuts Gold-Backed TER Token On Solana Blockchain

join us cable A channel to stay up to date with the latest breaking news

Bhutan is moving forward with its national blockchain strategy by launching TER, a gold-backed sovereign token built on the Solana blockchain.

The token was issued by the Special Administrative Region of Gelephu Mindfulnes (GMC) and is designed to connect traditional stores of value to blockchain-based finance, an announcement said.

The token will be issued and held by DK Bank, Bhutan’s first digital bank regulated by the Royal Monetary Authority. During the first phase of the token rollout, users will be able to purchase TER directly through DK Bank.

“By issuing gold-backed digital currencies with sovereign brands, we are demonstrating how a crypto-friendly city can welcome responsible innovation while remaining rooted in Bhutan’s values of transparency, sustainability and long-term stewardship,” said GMC Board Director Jegedril Singai.

Digital asset financial services platform Matrixdock, which received a financial services license from the Gelephu Mindness City Authority in September, will provide the tokenization infrastructure for the project.

🇧🇹 We are breaking new ground. Gelephu Mindfulness City in Bhutan (@gmcbhutan) launched TER, a gold-backed digital token backed by @matrixdocIndustry-leading coding technology.

Our team is proud to support the Kingdom in building the next generation… pic.twitter.com/w5Qd4sV2Qu

-matrixdoc (@matrixdoc) December 11, 2025

The use of the token is expected to be limited since it is “specific to a specific use case in GMC,” according to Finstep Asia founder and managing director Mushir Ahmed. However, Ahmed still believes that the launch of the token indicates “Bhutan’s vision for compatibility with stablecoin ecosystems.”

Bhutan continues to build on its national blockchain strategy

The launch of the TER token builds on Bhutan’s national blockchain strategy. This began in 2019 when the country launched its own Bitcoin mining operations using its abundant hydroelectric resources.

Data From Bitcoin Treasuries shows that Bhutan has acquired 5,984 BTC worth over $541 million at current prices.

In 2025, Bhutan intensified its efforts. In May, the government launched a nationwide cryptocurrency payment system that allows tourists to pay for services such as visas and travel as well as make local purchases using various digital assets.

This cryptocurrency payment system has gained significant traction, with more than 1,000 sellers now participating on the network.

In October, Bhutan also began migrating its national digital identity system to the Ethereum blockchain. This was the first time in the world in the field of self-sovereign digital IDs.

Bhutan has deepened its blockchain integration through the Ethereum Signature Initiative as well this year.

Digital assets are designed to keep rising in value

The launch of the TER token comes amid a global boom in digital assets designed to maintain a stable and predictable value. While TER is backed by gold rather than fiat currency, it can be seen as part of a broader trend towards token stores of value and stablecoins.

Momentum for the sector received a boost in July when US President Donald Trump signed the GENIUS Act into law, providing regulatory clarity to stablecoins, and encouraging major institutions in the US to enter the market.

As a result, the total market capitalization of stablecoins exceeded $300 billion this year, according to Defilama, With Tether’s USDT and Circle’s USDC continuing to dominate.

Stablecoin market capitalization (Source: Devillama)

Gold-backed cryptocurrencies have also gained traction, partly due to rising commodity prices. The tokenized gold market is now worth over $4.1 billion, according to Queen Gekkowith Tether Gold representing the largest share.

Best Wallet – Diversify your cryptocurrency portfolio