Bhutan has signed a multi-year Memorandum of Understanding (MoU) with crypto market maker Cumberland DRW to collaborate in building digital asset infrastructure at Gelephu Mindfulness City (GMC), deepening the country’s long-term, sustainability-focused crypto strategy.
In an announcement sent to Cointelegraph, the SAR said the partnership aims to support Bhutan’s vision of developing a modern digital economy in line with environmental and governance values.
Zigdrel Shingei, director of Gelefu Mindfulness City, said the partnership includes supporting Cumberland’s Bitcoin (BTC) reserve management, establishing a presence at GMC, and hiring local talent. Market Maker also plans to deploy subject matter experts to develop the local workforce.
GMC is a Special Administrative Region of Bhutan designed to attract talent from around the world while integrating technology, sustainability and mindful development.
sauce: GMCB Bhutan
Explore the development of a national digital asset ecosystem
Cumberland, the digital assets arm of Chicago-based trading firm DRW, is one of the largest institutional liquidity providers in the cryptocurrency market. The company has been active in the sector since 2014, serving global institutions across spot and derivatives markets.
Under this MoU, Cumberland and Bhutan aim to explore the development of a national crypto ecosystem, including modern financial frameworks, sustainable mining and artificial intelligence computing, yield generation, and stablecoin infrastructure.
The initiative is being led by Green Digital, a digital infrastructure company in partnership with GMC that is developing renewable energy-powered computing facilities. The company is tasked with aligning the development of digital assets with Bhutan’s broader sustainability and economic diversification goals.
Bhutan operates on a Gross National Happiness (GNH) model that emphasizes collective well-being over economic growth. This concept is central to Bhutan’s national identity.
DRW Founder Donald R. Wilson said, “Bhutan’s clear vision and focus on sustainable development make it a natural partner for responsible, forward-looking innovation.” “We are proud to support Bhutan in building the foundations of a modern digital economy.”
The agreement remains a memorandum of understanding, meaning it outlines areas of cooperation rather than binding commitments. We do not guarantee that any particular infrastructure will be deployed.
Related: How does Bhutan plan to revitalize the local economy with crypto tourism?
Bhutan digs deeper into digital asset ecosystem
Bhutan is one of the world’s earliest sovereign Bitcoin mining countries, using surplus hydropower to accumulate national Bitcoin reserves through renewable energy.
Bhutan has also integrated digital assets into the GMC’s strategic reserves, enabled crypto-based payments across tourism and commercial services, and launched TER, a government-backed digital token linked to physical gold.
Taken together, Bhutan’s efforts position the country as a rare example of a nation treating Bitcoin, stablecoins, and blockchain infrastructure as long-term economic tools rather than speculative experiments.
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