Bhutan Launches Gold-Backed Digital Token on Solana

Bhutan’s TER is a gold-backed digital token issued on the Solana blockchain by Gelephu Mindfulness City. Key partners include DK Bank and Matrixdock, with endorsements from the Solana Foundation and Matrixport, highlighting its sovereign-supported structure.

In a strategic move, Bhutan has announced its new gold-backed digital token, TER, on the Solana blockchain with key partnerships involving Gelephu Mindfulness City, DK Bank, and Matrixdock.

TER, a sovereign gold-backed digital token, is issued on the Solana blockchain, spearheaded by Gelephu Mindfulness City, with DK Bank and Matrixdock as key partners. Solana Foundation and Matrixport endorse the initiative, emphasizing its technological and economic significance.

Launch Details

The launch involves key players, including Gelephu Mindfulness City as the issuer, DK Bank as the exclusive distributor, and Matrixdock providing the tokenization technology. The Solana Foundation supports TER for its speed and low transaction costs.

Immediate Impacts Of TER

Immediate effects of TER’s introduction include reinforcing Bhutan’s stance in digital assets and showcasing Solana’s infrastructure benefits. It also highlights Bhutan’s ongoing adoption of blockchain technologies as part of its national strategy.

Future Considerations

This move could signal a shift in sovereign cryptocurrency projects, focusing on using gold-backing as a secure and trusted model for digital assets. Bhutan’s prior crypto initiatives support its commitment to innovative blockchain integration.

Regulatory Framework

The regulatory framework within Bhutan sees DK Bank operating under the supervision of the Royal Monetary Authority. Technologically, TER represents a synergy of sovereign backing and blockchain efficiency.