Bitget Signs Agreement to Explore Licensed Crypto Operations in Bhutan

Crypto exchange Bitget has signed an agreement with Bhutan’s Gelephu Mindfulness City Authority to explore setting up a licensed local presence, as the exchange looks to establish itself in the country’s growing digital asset sector.

Path Toward a Regulated Presence

The agreement could lead Bitget to establish a legal entity within Gelephu Mindfulness City and begin preparing an application for a relevant financial services license.

GMC is a $100 billion autonomous economic zone partly backed by Bhutan’s national Bitcoin reserves, designed to create high-value jobs across finance, technology, and wellness sectors. Bitget CEO Gracy Chen said GMC is becoming a hub for digital finance and that the exchange looks forward to contributing its trading infrastructure experience and supporting local talent development as the ecosystem grows.

Follows Recent 3iQ Partnership

The move comes shortly after GMC appointed Canadian digital-asset manager 3iQ to oversee a mandate tied to part of its Bitcoin treasury. Under that arrangement, 3iQ will manage an undisclosed portion of the Bitcoin allocated toward Gelephu’s development, while also establishing a long-term presence in the city, investing in local talent, and providing training and knowledge transfer to support the region’s digital asset ambitions.