Key Highlights
- Bhutan signed a multi-year MoU with Cumberland DRW to build digital asset infrastructure in Gelephu Mindfulness City.
- The deal includes Bitcoin reserve management, eco-friendly mining, a possible national stablecoin, and training local talent.
- Bhutan continues to grow its crypto strategy, using hydropower for mining and adding digital assets to national reserves.
Bhutan has signed a multi-year Memorandum of Understanding (MoU) with crypto market maker Cumberland DRW to develop digital asset infrastructure in Gelephu Mindfulness City (GMC). The deal, announced on Monday, will focus on creating a modern digital economy, managing the country’s Bitcoin (BTC) reserves, and creating jobs for local people.
The MoU outlines several areas of cooperation, including building a regulatory framework for cryptocurrencies, supporting eco-friendly mining, and using Bhutan’s crypto reserves to earn more income.
“The partnership focuses on sustainable digital asset infrastructure, national stablecoin development, and talent building—led in Bhutan by Green Digital Ltd.,” according to an update shared on X.
Green Digital Ltd, a GMC subsidiary, will provide computing centers powered by renewable energy. Cumberland DRW will bring trading expertise and subject-matter experts to train the local workforce. Jigdrel Singay, GMC board director, said the company will help with Bitcoin reserve management and hire local talent.
The move marks another step by the Bhutanese government toward becoming more crypto-friendly. The country recently announced plans to launch the world’s first sovereign-backed gold token.
Bhutan’s digital growth and vision
Bhutan has already integrated cryptocurrencies into its strategic reserves. Earlier this year, GMC added Bitcoin, Ethereum, and Binance Coin to its holdings, while its national digital identity system shifted from the Polygon blockchain to Ethereum.
Moreover, the country is famous for using hydropower to mine Bitcoin, and it is one of the earliest adopters. Currently, it ranks seventh in countries with the largest Bitcoin holdings and holds a total of 5,984 BTC valued at over $512 million.
The MoU sets a clear plan for cooperation between Bhutan and the prominent market maker. It sets a clear roadmap that would help Bhutan grow a responsible and eco-friendly digital economy while creating jobs and training opportunities for local people.
Also Read: Strategy Buys $980 Million in Bitcoin, Now Holds Over 671K Bitcoin
