Bitget 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 marks one of the first publicly disclosed moves by a major global cryptocurrency exchange to engage with GMC's nascent regulatory regime.

Under the agreement, Bitget will establish 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 workstreams. The cooperation aims to support the growth of the digital asset ecosystem in GMC, subject to the required regulatory 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 attracted significant attention as a sovereign participant in the digital asset sector. Through Druk Holding & Investments, the country's state investment arm, Bhutan 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. Bhutan is among a small number of sovereign governments directly participating in digital asset activities, a distinction that has drawn interest from international policymakers and industry observers.

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. The framework positions GMC alongside a growing list of jurisdictions that have enacted dedicated digital asset legislation to attract regulated crypto businesses.

"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 openness to responsible digital innovation has drawn 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.

Through the 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 a physical office presence over time, supporting GMC's focus on substance, talent development, knowledge transfer, and long-term capability building. The outcome of Bitget's licence application and the pace of GMC's ecosystem development will be shaped by subsequent regulatory decisions and the broader adoption of GMC's framework by international firms.