GMC Launches TER Token, Backed By the Kingdom of Bhutan

Gelephu Mindfulness City (GMC) announced on Thursday, December 11, that it has launched TER, a physical gold-backed digital token issued with the sovereign backing of the Kingdom of Bhutan.

In a press release shared with Cryptowisser, GMC explained that TER is a term derived from the Dzongkha word for “Treasure.” The token reflects Bhutan's deep-seated heritage of protecting and preserving what is valuable.

GMC added that it intends to become a hub for mindful innovation and responsible technology adoption. It has partnered with DK Bank to ensure the highest level of security and regulated access.

DK Bank, which is Bhutan's first digital bank, will serve as the exclusive distributor and custodian of TER. The bank is regulated by the Royal Monetary Authority of Bhutan and the Gelephu Mindfulness City Authority.

The TER tokens will be issued on the Solana blockchain thanks to its high speed, low transaction costs, and small environmental footprint. GMC has also appointed Matrixdock as the tokenization technology partner, leveraging its leadership in gold tokenization and institutional-grade infrastructure.

In the initial phase of the launch, users will purchase TER directly through DK Bank, and the tokens will be held securely in institutional custody. GMC added that TER provides a modern, accessible gateway for international investors seeking the security of physical gold combined with the convenience of digital ownership. 

While commenting on the launch, Jigdrel Singay, Board of Directors of GMC, said, 

“As Gelephu Mindfulness City takes shape as a new global hub for mindful innovation, the launch of TER marks a foundational step in building a values-driven digital economy rooted in real-world assets and sovereign trust. By issuing gold-backed digital tokens with sovereign branding, we are demonstrating how a crypto-friendly city can welcome responsible innovation while staying rooted in Bhutan’s values of transparency, sustainability, and long-term stewardship. Through TER, we aim to set a benchmark for how nations can bridge tradition and cutting-edge technology.”

Lily Liu, President of Solana Foundation, added that the foundation is honored that Gelephu Mindfulness City has chosen Solana as the blockchain infrastructure for TER.

“This collaboration showcases how forward-looking nations can leverage Solana’s technology to bring high-quality, asset-backed digital products to a global audience while staying true to their cultural values and regulatory standards,” Liu added. 

Mr. John Ge, CEO of Matrixport, commented that 

“Matrixdock is the flagship RWA business unit within the Matrixport Group, and we are honored to support GMC’s TER token. This partnership reflects our shared commitment to building the next generation of trusted, transparent, and globally connected financial infrastructure.”

The Kingdom of Bhutan continues to strive forward in the ecosystem by integrating blockchain technology into public infrastructure. In recent months, the country has recorded some incredible milestones, including;

• Becoming the first nation to anchor its national digital identity system on the Ethereum blockchain in October, enabling nearly 800,000 Bhutanese citizens to verify their identities and securely access public services by 2026.

• Adopting Binance Pay in May for seamless crypto transactions across select merchants and tourism services.

• Being the first country to mine Bitcoin since 2018 and hold Bitcoin in its national reserve.

In addition to these, the country has been mining Bitcoin using renewable hydropower and is currently among the world’s top Bitcoin-holding nations.