Bhutan Unveils Gold-Backed SOVEREIGN TOKEN TER

• GMC has teamed up with DK Bank, which will act as TER’s only distributor and custodian in order to provide the greatest level of security and controlled access.
• Due to its fast speed, low transaction costs, and no environmental impact, Solana’s enterprise-grade blockchain infrastructure will be used to issue tokens.

Today, Gelephu Mindfulness City (GMC) announced the introduction of TER, a digital token backed by physical gold that was issued with the Kingdom of Bhutan’s sovereign backing. The name “TER,” which comes from the Dzongkha word for “Treasure,” symbolizes Bhutan’s longstanding tradition of safeguarding and conserving valuables.

The launch represents the most recent phase of Bhutan’s creative cryptocurrency strategy and the Kingdom’s dedication to skillfully fusing its beloved customs with bold forays into the digital future.

GMC wants to establish itself as a center for ethical technology use and thoughtful innovation. With the help of a sovereign country, GMC, as the official issuer of TER, is creating a new standard for asset-backed digital currencies by bringing physical gold into the digital realm in a transparent and verifiable manner.

GMC has teamed up with DK Bank, which will act as TER’s only distributor and custodian in order to provide the greatest level of security and controlled access. The Royal Monetary Authority of Bhutan and the Gelephu Mindfulness City Authority oversee DK Bank, the country’s first digital bank.

Due to its fast speed, low transaction costs, and no environmental impact, Solana’s enterprise-grade blockchain infrastructure will be used to issue tokens. Because of its institutional-grade infrastructure and expertise in gold tokenization, Matrixdock has been selected as the tokenization technology partner.

TER token purchases are designed to be as safe and recognizable as buying real gold from a large financial institution. Users will buy TER directly from DK Bank during Phase 1 of the deployment, and the tokens will be safely stored in institutional custody.

For foreign investors looking for the ease of digital ownership together with the security of real gold, TER offers a contemporary, easily accessible gateway. The token meets the increasing need for strong, dependable, and tax-efficient digital volatility hedges on a worldwide scale.

Commenting on the news, Jigdrel Singay, Board of Director of GMC said:

Lily Liu, President of Solana Foundation said:

Mr. John Ge, CEO of Matrixport, commented:

By incorporating blockchain technology into public infrastructure, the nation engages individuals and keeps redefining what digital sovereignty means in the twenty-first century. Other significant turning points in the last several months include:

• Almost 800,000 Bhutanese people will be able to safely access public services by 2026 after the country became the first to anchor its national digital identification system on the Ethereum blockchain in October.
• Adoption of Binance Pay in May to enable smooth cryptocurrency purchases with a few chosen retailers and travel services.
• Holding Bitcoin in its national reserve and becoming the first nation to mine it since 2018.
• Bhutan is one of the top Bitcoin-holding countries in the world and has started mining Bitcoin using sustainable electricity.

With an emphasis on innovation, sustainability, and mindfulness, the Gelephu Mindfulness City Special Administrative Region is a pioneering initiative establishing a top-tier economic center in southern Bhutan.

As a worldwide model of holistic development, the SAR combines traditional Bhutanese values with internationally recognized legal frameworks, state-of-the-art design and technology, and the Kingdom’s plentiful renewable energy resources.

The Royal Monetary Authority of Bhutan and the Gelephu Mindfulness City Authority oversee DK Bank, the country’s first digital bank. Through its mobile banking platform, the bank offers a wide range of digital financial services, such as real-time cash transfers, QR payments, foreign exchange, and daily interest accounts.