- Bhutan introduces TER, a sovereign-backed gold token running on the Solana blockchain.
- Investors can purchase TER through DK Bank, ensuring secure and compliant gold-backed digital assets.
- Gelephu Mindfulness City serves as a hub for Bhutan’s broader digital economy and blockchain innovation efforts.
Bhutan has introduced a new gold-backed digital asset, TER, issued through Gelephu Mindfulness City. This sovereign-backed token runs on the Solana blockchain and is supported by Bhutan’s first licensed digital bank, DK Bank. The initiative positions Bhutan among a select group of nations embracing blockchain for state-backed tokenized assets.
Tokenized Gold Available Through DK Bank
In the first phase of the project, investors can purchase TER directly through DK Bank. The bank’s involvement bridges traditional gold purchasing with the benefits of blockchain technology. This setup allows international buyers to access a tokenized form of gold while ensuring full on-chain transparency.
The alliance with DK Bank is a guarantee that the precious metal reserves that support the token are properly taken care of and are, at the same time, following the rules in every aspect. With this partnership, the investors are given trust in the safety and validity of the digital asset. The adoption of Solana’s network is providing an efficient and inexpensive medium for transaction execution.
Gelephu Mindfulness City as a Hub for Digital Innovation
TER is a key project for Gelephu Mindfulness City, a special zone aimed at attracting international investments. This city is central to Bhutan’s broader strategy to diversify its economy through digital and blockchain-based solutions. It is designed to foster innovation while maintaining Bhutan’s cultural and sustainability priorities.
Officials see the city as an essential part of Bhutan’s digital transformation efforts. Gelephu Mindfulness City will serve as a testing ground for various blockchain applications, including the sovereign gold token. The initiative is expected to play a crucial role in Bhutan’s move towards a digital economy.
Growing Trend of State-Backed Tokenized Assets
Bhutan’s initiation of TER takes the other countries’ route, like Kyrgyzstan, which very recently launched a gold-backed stablecoin, USDKG. These initiatives exemplify a pattern where the nations are making over their financial systems and bringing forth digital assets with traditional value stores. The rise of state-backed tokenized assets is not developing as fast in the same way, as the smaller nations that are in Africa and Asia are getting the technology for economic growth through blockchain.
With this latest move, Bhutan becomes one of the few nations that are trying out the concept of government-backed digital currencies. The success of such projects as TER might open up the path for the more widespread acceptance of blockchain-enabled financial systems in other nations. The project represents a growing worldwide interest in the potential of blockchain for secure and transparent financial systems.
