Bhutan’s special administrative region, Gelephu, announced plans to include cryptocurrencies in its strategic reserves. This decision positions Gelephu among the first global jurisdictions to officially hold digital assets as part of their reserves.
Crypto as a Catalyst for Economic Growth
Gelebritephu’s decision reflects its vision to become the 'Hong Kong of South Asia.' Located strategically near rapidly developing economies, the city aims to serve over two billion people. The inclusion of Bitcoin, Ethereum, and Binance Coin is part of a broader strategy to adopt mature digital assets with high market capitalization and deep liquidity to ensure transparency and security in transactions. This announcement follows the enactment of the 'Application of Laws Act 2024,' which provides a legal framework for companies offering financial services involving digital assets.
Strategic Partnerships and Vision
Gelephu’s development has drawn international attention, including a partnership with the Danish architecture and design firm Bjarke Ingels Group (BIG). BIG is opening an office in Bhutan to work on Gelephu’s development and foster design talent within the Himalayan kingdom. The city’s focus on digital assets aligns with Bhutan’s broader economic transformation. Gelephu plans to host a high-level meeting in March 2025, bringing together government officials and industry leaders to discuss integrating digital assets into strategic reserves and establishing an international advisory panel on digital assets for the region.
Bhutan’s Lead in Sustainable Crypto Adoption
Bhutan's crypto journey distinguishes it from neighboring countries like India, which remain cautious towards digital assets. The nation's success is rooted in its unique ability to power large-scale Bitcoin mining with hydropower, accounting for 30% of GDP and capable of generating up to 23,760 MW of electricity.
Bhutan's initiative to include cryptocurrencies in national reserves underscores its leadership in the sustainable use of digital assets, attracting global attention.
