Bitget Signs Deal To Expand Into Bhutan’s Gelephu Mindfulness City

Bitget has signed a cooperation agreement with Gelephu Mindfulness City Authority (GMCA) to help advance the fledgling digital asset industry in Bhutan. The partnership specifies the plan for the crypto exchange to establish a presence in Gelephu Mindfulness City (GMC) and obtain the regulatory approval needed to operate in the S.A.R.

Bitget Lands Major Deal In Bhutan

As part of the deal, Bitget will attempt to establish a legal entity in GMC and submit an application for a Financial Services Licence with the Gelephu Financial Services Office (GFSO). The two will also work cooperatively on the implementation of operational, compliance and ecosystem development initiatives, which will be subject to regulatory approval.

“Bhutan is approaching digital assets with a rare mix of long-term thinking, clean-energy advantage and regulatory clarity,” noted Gracy Chen, CEO at Bitget. She further added “GMC is the emerging hotbed for digital finance, and Bitget looks forward to contributing exchange experience, infrastructure knowledge and local talent development as this ecosystem grows.”

Bhutan’s stance on digital assets has been gaining momentum and the country has been recognized as a leader in promoting environmentally sustainable cryptocurrency mining with its abundant hydropower resources. The strategy is part of the country’s overall plans for the diversification of its economy, generate jobs and attract skilled workers to stay in Bhutan.

What Are The Other Aspects In The Collaboration?

Another part of that strategy is the creation of Gelephu Mindfulness City. The special administrative region, in the south of Bhutan, is being developed as an international hub for finance and innovation.

GMC itself and financial and virtual asset businesses from within GMC are subject to the regulation of the Financial Services Act 2025 and other related regulatory frameworks. It mandates that companies get a Financial Services Licence from the GFSO before providing regulated services within this framework. Now, Bitget is a part of it with other crypto exchanges also eyeing the market.

Jigdrel Singay, the Board Director of Gelephu Mindfulness City, remarked, “Our objective is to build a world-class digital asset ecosystem founded on robust regulation, institutional standards and long-term economic value. Partners such as Bitget play an important role in bringing global expertise while contributing to the development of local capabilities and the broader financial ecosystem.”

Additionally, Bhutan has shown its future dedication to digital assets by signing the Bitcoin Development Pledge in December 2025, which included a list of key pillars for responsible adoption, institutional engagement, and the establishment of a regulatory environment for digital assets. Bitget plans to provide its exchange infrastructure expertise to GMC and will seek to develop a local team and local office presence as part of its expansion.