Bitget has entered into a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA), marking a strategic move to establish a local presence in Bhutan's Gelephu Mindfulness City (GMC). The agreement outlines a framework for Bitget to set up a legal entity in GMC, prepare an application for the relevant Financial Services Licence under the regulatory framework administered by the Gelephu Financial Services Office (GFSO), and collaborate with GMCA on operational, regulatory, and ecosystem-building initiatives.
The partnership is designed to support the growth of the digital asset ecosystem in GMC, subject to necessary approvals. Bhutan has emerged as a notable sovereign player in digital assets, leveraging its abundant hydropower for green cryptocurrency mining as part of a broader economic strategy. GMC, a Special Administrative Region in southern Bhutan, is being developed as a next-generation international financial and innovation hub, with its financial services and virtual asset regime governed by the Financial Services Act 2025 and subsidiary rulebooks.
Bitget's Commitment to GMC
Gracy Chen, CEO of Bitget, highlighted Bhutan's unique approach to digital assets, citing its long-term vision, clean-energy advantage, and regulatory clarity. "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," Chen said. The planned local setup includes hiring local staff and establishing an office over time, aligning with GMC's focus on substance, talent development, and long-term capability building.
Jigdrel Singay, Board Director of Gelephu Mindfulness City, emphasized the importance of partners like Bitget in bringing global expertise while contributing to local capabilities. "Our objective is to build a world-class digital asset ecosystem founded on robust regulation, institutional standards, and long-term economic value," Singay stated.
Bhutan's Digital Asset Strategy
Bhutan's openness to responsible digital innovation has attracted international attention. In December 2025, the country signaled its long-term commitment through the Bitcoin Development Pledge, aiming to responsibly integrate digital assets into its economic development strategy. This cooperation with Bitget is part of that broader effort, with the exchange intending to contribute its global exchange experience, market infrastructure knowledge, and industry expertise to GMC's emerging ecosystem.
Bitget has been expanding its footprint in the digital asset space, including recent initiatives such as securing a New Zealand FSP registration and adding US stock options trading. The company's move into Bhutan aligns with its broader strategy of unified global market access and its focus on bridging crypto and traditional finance.
As GMC develops its regulatory framework, the partnership with Bitget could serve as a model for other exchanges seeking to enter the region. The agreement underscores the growing trend of sovereign entities embracing digital assets while maintaining regulatory oversight.
This article is for informational purposes only and does not constitute financial advice.
