Bhutan is deepening its national blockchain push with the rollout of TER, a gold-backed digital token issued through Gelephu Mindfulness City and supported by the Kingdom’s sovereign framework.
Key Takeaways:
- Bhutan launched TER, a sovereign-backed gold token on Solana.
- Investors can buy TER directly through DK Bank with full on-chain transparency.
- The move strengthens Bhutan’s push into state-backed digital assets.
The initiative positions Bhutan among the few nations experimenting with state-backed tokenized assets as it looks to merge traditional stores of value with modern financial infrastructure.
According to an announcement on Thursday, TER will run on Solana and be distributed and custodied by DK Bank, Bhutan’s first licensed digital bank.
Bhutan Opens Direct Bank Sales for Its Tokenized Gold Asset
In the first phase, investors will be able to acquire the token directly through the bank, creating a bridge between familiar gold-purchase processes and transparent, on-chain ownership.
Officials say the structure allows international buyers to access a tokenized form of gold that retains the mobility, settlement efficiency and global reach of digital assets.
TER is also a flagship project for Gelephu Mindfulness City, a special administrative zone designed to attract international capital and nurture Bhutan’s digital economy.
The city forms a key pillar of the Kingdom’s broader strategy to diversify its economy with technology-led initiatives that align with cultural and sustainability priorities.
Bhutan’s move comes shortly after Kyrgyzstan unveiled USDKG, a state-supervised gold-backed stablecoin, highlighting a growing trend in which smaller nations use blockchain to modernize the management of safe-haven assets.
Beyond its role as a new investment instrument, TER underscores Bhutan’s ambition to build a sovereign-aligned digital finance ecosystem rooted in audited reserves and institutional safeguards.
DK Bank’s regulated infrastructure is intended to give both domestic and global investors confidence in custody and compliance standards.
Solana’s high-speed, low-cost network provides the technical foundation for the token, with its performance and environmental efficiency cited as deciding factors.
The launch fits into a broader national program of digital experimentation. Bhutan has woven digital assets into its strategic reserves, deployed blockchain-based identity systems, enabled crypto-powered payments and leveraged hydropower to mine Bitcoin.
The introduction of TER marks the latest step in that evolution, giving Bhutan a distinctive position in the growing market for state-backed tokenized assets.
SC Ventures-Backed Libeara Launches Tokenized Gold Fund
On Monday, Libeara, the blockchain infrastructure platform backed by Standard Chartered’s venture arm SC Ventures, rolled out a new tokenized gold investment fund in Singapore, bringing one of the world’s oldest safe-haven assets onto digital rails.
The fund, launched in partnership with FundBridge Capital, allows professional investors to gain exposure to gold through blockchain-based tokens issued on Libeara’s ledger.
In a recent research, Web3 digital property firm Animoca Brands said that tokenization of RWAs could unlock a $400 trillion traditional finance market.
Animoca researchers Andrew Ho and Ming Ruan said the global market for private credit, treasury debt, commodities, stocks, alternative funds, and bonds represents a vast runway for growth.
“The estimated $400 trillion addressable TradFi market underscores the potential growth runway for RWA tokenization,” they wrote.
Meanwhile, according to the 2025 Skynet RWA Security Report, the market for tokenized RWAs could grow to $16 trillion by 2030.
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