- Bhutan launches gold-backed TER token on Solana blockchain for stability.
- DK Bank to distribute and secure Bhutan’s new digital asset.
- Bhutan eyes future tokens backed by silver, rare stones, assets.
Bhutan has officially launched the TER token, a gold-backed digital asset built on the Solana blockchain. The token represents physical gold held in secure custody, marking a strategic move in Bhutan’s financial and blockchain initiatives.
Gelephu Mindfulness City Issues TER Token for Controlled Rollout
Gelephu Mindfulness City (GMC), a Special Administrative Region in Bhutan, has issued the TER token as part of a controlled rollout with a specific focus on limited uptake and designated use cases.
Musheer Ahmed, founder of Finstep Asia, highlighted that the TER launch reflects Bhutan’s goal to integrate stablecoin ecosystems while utilizing gold as a stable, neutral asset for the token. The use of physical gold to back the digital token ensures its value remains consistent and reliable in the volatile world of cryptocurrencies.
Exclusive Distribution and Custody with DK Bank
DK Bank, the first digital bank in Bhutan, will serve as the exclusive distributor and custodian of the TER token. The GMC-licensed financial platform Matrixdock will provide the necessary infrastructure for tokenization.
This development places Bhutan among countries exploring gold-backed tokens as a stablecoin alternative. Notably, Kyrgyzstan recently launched USDKG, a similar gold-backed stablecoin, further solidifying the region’s interest in such financial innovations. Bhutan’s gold reserves currently back the new initiative, and the country is known for holding significant cryptocurrency assets, including 5,984 BTC, worth over $540 million.
Bhutan’s Digital Asset Strategy: A Step Towards Broader Blockchain Adoption
The launch of the TER token is just the beginning of Bhutan’s plans to further expand its digital asset offerings. Experts, including Monica Jasuja from Emerging Payments Association Asia, suggest that Bhutan may issue more digital tokens in the future, potentially backed by silver, rare stones, or cultural and environmental assets.
This evolving strategy showcases the nation’s commitment to exploring responsible and innovative blockchain solutions while staying aligned with the values of sustainability and transparency.
With the success of the TER token, Bhutan continues to position itself as a forward-thinking nation within the global blockchain landscape, paving the way for other countries to follow its example. The move is expected to enhance financial security, offering a stable alternative to traditional cryptocurrencies.
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