Bhutan goes for gold, announces sovereign-backed RWA token

The Himalayan Kingdom mines Bitcoin, holds digital asset reserves, and has embraced blockchain technology to modernize its financial system.

Gelephu Mindfulness City (GMC), a special administrative zone of Bhutan, announced on Wednesday that it is launching a sovereign gold-backed digital token called TER. 

The physical gold deposits will be custodied by DK Bank, a digital asset bank regulated by the government of Bhutan, and issued on the Solana Blockchain network, according to GMC’s announcement.

Matrixdock, a real-world asset tokenization (RWA) platform, is the technology partner responsible for tokenizing the real-world asset on the blockchain.

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