Bhutan’s Gelephu Mindfulness City (GMC) has launched a licensing framework that combines regulatory approval and corporate banking for crypto and fintech firms into a single process.
Firms already licensed in Singapore, the Abu Dhabi Global Market (ADGM), or Hong Kong will qualify for an expedited review under the framework, GMC said.
The framework combines licensing and banking approval into one process. Companies that receive a GMC license will also gain access to corporate banking through DK Bank at the same time, GMC said.
Integrated licensing and banking model
Under the framework, companies can incorporate, obtain regulatory approval, and open a corporate bank account through a single application process, according to GMC.
Crypto and fintech firms have frequently faced delays in obtaining banking access after receiving regulatory approval in other jurisdictions, a problem the GMC framework is intended to address.
“If a company has already demonstrated credibility in leading jurisdictions, we recognise that and enable them to move faster,” said Jigdrel Singay, board member and digital assets and fintech lead at GMC.
He added that the integrated structure allows companies to become operational immediately rather than waiting months for banking approval after licensing.
Expanding crypto and digital asset infrastructure
The latest GMC licensing announcement also comes amid renewed attention on Bhutan’s growing Bitcoin strategy. In recent developments, the Bhutanese government reportedly moved another 100 BTC, pushing total Bitcoin-related outflows in 2026 above $230 million.
The activity follows Bhutan’s broader push into digital assets through Gelephu Mindfulness City. In 2025, GMC adopted cryptocurrencies as part of its strategic reserve framework, while later in December 2025, Bhutan committed 10,000 BTC toward the development of the Special Administrative Region.
Earlier in 2026, blockchain analytics platform Nansen announced plans to establish a presence in GMC to support digital asset infrastructure and on-chain analytics.
Banking and crypto services included
According to GMC, companies approved under the framework will gain access to multi-currency banking support across nine major currencies, including USD, EUR, GBP, SGD, INR, JPY, HKD, AUD, and BTN.
“In most financial centres, getting licensed is only half the battle. Getting a bank account is where companies get stuck,” said Yu Dong Zheng, chief executive of DK Bank.
DK Bank also plans to offer digital asset-related financial services, including BTC-backed lending, crypto asset swaps, and integrated fiat-to-crypto on- and off-ramp infrastructure.
The framework also includes tax incentives, territorial taxation, and a Variable Capital Company (VCC) structure, a model used in Singapore.
GMC expansion in the crypto industry
Several crypto and fintech executives praised GMC’s regulatory direction and institutional infrastructure strategy.
CEO of Ceffu, Ian Loh, described the licensing process as collaborative and focused on balancing innovation with compliance and security standards.
Meanwhile, Co-Founder & CEO, BIT, John Ge, said GMC’s integration of regulation, banking, and operational readiness significantly reduces execution risk for companies entering new markets.
The development reflects growing competition among jurisdictions seeking to attract regulated crypto firms, tokenization platforms, and institutional digital asset infrastructure providers through clearer compliance frameworks and banking access.
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