Gelephu Mindfulness City (GMC), a special administrative region in Bhutan, announced plans to incorporate major cryptocurrencies into its strategic reserves, marking a pioneering move in government-level digital asset adoption.
The city will focus on holding Bitcoin, Ethereum, and BNB as part of its reserve strategy, according to an official statement released on January 8. The selection criteria emphasize cryptocurrencies with substantial market capitalization and high trading liquidity to enable smooth transactions without major price impacts.
"The inclusion of BNB in Bhutan's strategic reserve validates blockchain's potential on a macroeconomic level," said Sarah Song, Head of Business Development at BNB Chain. "It highlights the growing confidence of institutions and governments in digital assets."
This initiative builds upon Bhutan's existing involvement in cryptocurrency through Bitcoin mining operations powered by the country's abundant hydroelectric resources. Data from Arkham Intelligence shows that Druk Holding and Investments, Bhutan's sovereign investment arm, currently holds $1.12 billion worth of Bitcoin.
GMC, envisioned by King Jigme Khesar Namgyel Wangchuck as a model of sustainable urban development, aims to become a central hub for digital innovation and blockchain technology in South Asia. The city recently enacted digital asset laws in December 2024, creating a structured environment for cryptocurrency businesses.
The project will span 21 years, with initial plans to accommodate 150,000 residents. In March, GMC will host a meeting with industry leaders to discuss cryptocurrency integration and form an international advisory panel on digital assets.
This strategic move positions GMC as one of the first Special Administrative Regions globally to formally include digital assets in its reserves, reflecting a broader trend of institutional acceptance of cryptocurrencies as legitimate financial instruments.