Bhutan goes for gold, announces sovereign-backed RWA token

Gelephu Mindfulness City (GMC), a special administrative zone in Bhutan, announced the launch of TER, a sovereign gold-backed digital token. The physical gold backing these tokens will be custodied by DK Bank, a government-regulated digital asset bank, and the token will be issued on the Solana Blockchain network, with Matrixdock serving as the technology partner for tokenization. This initiative is positioned as a hedge against currency inflation and a significant step in Bhutan's broader strategy to adopt blockchain technology and modernize its financial system. Bhutan has actively embraced crypto, mining Bitcoin since 2019 and holding significant digital asset reserves, including BTC, Ether, and BNB. Furthermore, the country partnered with DK Bank and Binance Pay to allow tourists to pay for services using over 100 cryptocurrencies, aiming to establish itself as a regional cryptocurrency hub.

(Source：Cointelegraph)