Gelephu, a special administrative region in Bhutan, has announced plans to include Bitcoin, Ethereum, and Binance Coin in its strategic reserve, positioning it among the first globally to do so.
Crypto as a Catalyst for Economic Growth
GMC's decision reflects its ambition to be the 'Hong Kong of South Asia.' With its strategic location, GMC aims to serve over two billion people in South Asia. The inclusion of BTC, ETH, and BNB is part of a broader strategy to adopt mature digital assets known for their stability and ability to support on-chain transaction monitoring, ensuring transparency and security.
Strategic Partnerships and Vision
GMC's development has drawn international attention, including a partnership with Bjarke Ingels Group (BIG), a Danish architecture and design firm. BIG is opening an office in Bhutan to work on GMC's development. A high-level meeting is planned for March 2025 to discuss the integration of digital assets into strategic reserves.
Bhutan's Lead in Sustainable Crypto Adoption
Bhutan's approach to crypto sets it apart from neighboring countries like India, which remain cautious. The nation's unique ability to leverage hydropower for large-scale Bitcoin mining marks its distinct path.
Gelephu and Bhutan present an innovative approach to cryptocurrency, underpinned by natural resources and a strategic vision for economic development.