The Gelephu administrative region in Bhutan announced plans to include cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This move positions the region among the first worldwide to officially use digital assets in their reserve strategy.
Crypto as a Catalyst for Economic Growth
Gelephu's decision reflects its aspiration to become the 'Hong Kong of South Asia.' Strategically located near South Asia's rapidly growing economies, the region aims to serve over two billion people. The inclusion of BTC, ETH, and BNB forms part of a broader strategy to adopt mature digital assets with high market capitalization and deep liquidity, ensuring transparency and security.
Strategic Partnerships and Vision
Gelephu's development has garnered international attention, including a partnership with Danish architecture and design firm Bjarke Ingels Group (BIG). BIG is opening an office in Bhutan to work on the project and foster design talent within the kingdom. The region plans to host a high-level meeting in March 2025 to discuss the integration of digital assets.
Bhutan's Lead in Sustainable Crypto Adoption
Bhutan's approach to cryptocurrency sets it apart from neighboring countries. Bhutan is uniquely positioned to support large-scale Bitcoin mining with hydropower, which accounts for 30% of its GDP.
Gelephu's plans to incorporate cryptocurrencies into strategic reserves strengthen the region's position as an innovative economic hub ready to leverage digital assets for sustainable development.
