Bitget, one of the world's largest cryptocurrency exchanges by trading volume, has signed a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA), taking a step toward establishing a local presence in Gelephu Mindfulness City (GMC), Bhutan.

The agreement outlines a framework for Bitget to set up a legal presence in GMC, prepare an application for the relevant Financial Services Licence under the regulatory framework administered by the Gelephu Financial Services Office (GFSO), and collaborate with GMCA on operational, regulatory, and ecosystem-building initiatives. The cooperation is intended to support the growth of the digital asset ecosystem in GMC, subject to required approvals.

"Bhutan is approaching digital assets with a rare mix of long-term thinking, clean-energy advantage and regulatory clarity," said Gracy Chen, CEO at Bitget. "GMC is the emerging hotbed for digital finance, and Bitget looks forward to contributing exchange experience, infrastructure knowledge and local talent development as this ecosystem grows."

Bhutan has emerged as one of the most closely watched sovereign participants in the digital asset space. The country has leveraged its hydropower resources to support green cryptocurrency mining as part of a broader strategy to stimulate economic growth, create new employment pathways, and retain young talent. State-owned Druk Holding and Investments, Bhutan's investment arm, has been reported to hold Bitcoin reserves accumulated through mining operations, placing the country among a small group of sovereign entities with direct exposure to digital assets.

GMC, a Special Administrative Region in southern Bhutan, is being developed as a next-generation international financial and innovation hub. Its financial services and virtual asset regime is governed by the Financial Services Act 2025 and subsidiary rulebooks. Firms carrying on regulated financial services or virtual asset activities in or from GMC are required to obtain a Financial Services Licence from the GFSO.

"Our objective is to build a world-class digital asset ecosystem founded on robust regulation, institutional standards and long-term economic value. Partners such as Bitget play an important role in bringing global expertise while contributing to the development of local capabilities and the broader financial ecosystem," said Jigdrel Singay, Board Director of Gelephu Mindfulness City.

Bhutan's broader openness to responsible digital innovation has attracted international attention. In December 2025, through the Bitcoin Development Pledge, Bhutan signaled its long-term commitment to responsibly integrating digital assets into its economic development strategy, fostering an ecosystem built on sound regulation, institutional participation, and long-term value creation.

The cooperation reflects a broader trend among major cryptocurrency exchanges seeking regulated footholds in jurisdictions with clear digital asset frameworks, as global regulatory scrutiny intensifies across key markets. Through this cooperation, Bitget intends to contribute global exchange experience, market infrastructure knowledge, and digital asset industry expertise to GMC's emerging ecosystem. The planned local setup includes local hiring and office presence over time, supporting GMC's focus on substance, talent development, knowledge transfer, and long-term capability building.