Bitget has signed a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA), marking a step toward establishing a local presence in Gelephu Mindfulness City (GMC), Bhutan. Th
Bitget has signed a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA), marking a step toward establishing a local presence in Gelephu Mindfulness City (GMC), Bhutan. The agreement sets out a framework for Bitget to establish a legal presence in GMC, prepare an application for a Financial Services Licence under the regime administered by the Gelephu Financial Services Office, and work with the authority on operational, regulatory and ecosystem-building workstreams.
No licence has yet been granted, with the agreement committing Bitget to preparing an application under a regulatory regime that took effect last year. Bitget CEO Gracy Chen said the exchange looks forward to contributing infrastructure knowledge and talent development to the city's growing digital finance ecosystem, describing Bhutan as approaching digital assets with "a rare mix of long-term thinking, clean-energy advantage and regulatory clarity."
GMC is a Special Administrative Region in southern Bhutan, being developed to become an international financial and innovation hub. Its financial services and virtual asset regime is governed by the Financial Services Act 2025, with firms carrying on regulated virtual asset activities in or from GMC required to obtain a Financial Services Licence from the GFSO.
The city's digital finance ambitions are underpinned by Bhutan's national $BTC strategy. Bhutan committed up to 10,000 Bitcoin toward the long-term development of GMC, a pledge that builds on the kingdom's years-long use of Bitcoin mining powered by surplus hydropower. Bhutan was among the earliest sovereign Bitcoin miners, converting that clean energy surplus into digital assets for several years.
Jigdrel Singay, Board Director of Gelephu Mindfulness City, said the city's objective is to build a world-class digital asset ecosystem founded on robust regulation, institutional standards and long-term economic value, adding that partners such as Bitget play an important role in bringing global expertise while contributing to local capability development.
For Bitget, the agreement opens a potential foothold inside one of the most closely watched digital asset jurisdictions being developed today. The framework commits Bitget to working with GMCA on operational, regulatory and ecosystem-building workstreams, all subject to the required regulatory approvals.
Bhutan signalled its longer-term intentions in December 2025 through the Bitcoin Development Pledge, framing digital assets as part of its national economic development strategy. Bitget's move into GMC places the exchange at the centre of that strategy as Bhutan works to attract regulated global operators to the zone.
Sources:Investing.com: Bitget signs cooperation deal with Bhutan's Gelephu Mindfulness CityCoinDesk: Bhutan Commits Up to 10,000 Bitcoin to Back New Mindfulness-Based Economic HubGlobeNewswire via Manila Times: Bitget Signs Cooperation Agreement with Gelephu Mindfulness City Authority
