Bhutan has officially launched TER, a sovereign-backed digital token fully collateralized by physical gold reserves, marking a significant step in the country’s expanding blockchain strategy. The initiative was announced by Gelephu Mindfulness City (GMC), Bhutan’s Special Administrative Region focused on digital innovation.
The token is issued on the Solana blockchain, providing investors with a transparent, blockchain-based representation of gold ownership backed directly by state-held reserves.
Built on Solana with on-chain proof of reserves
TER leverages Solana’s high-speed and low-cost infrastructure to offer instant settlement, global portability, and real-time verification of collateral. According to GMC, the blockchain framework enables on-chain transparency while maintaining direct linkage to physical gold holdings.
DK Bank has been appointed as the exclusive distributor of the token, while Matrixdock supplies the tokenization infrastructure, ensuring that each TER token is fully backed by verifiable gold reserves.
Part of Bhutan’s broader digital asset strategy
The TER launch is one component of Bhutan’s wider push into digital finance and blockchain technology. The country has already partnered with Ripple to pilot a central bank digital currency (CBDC) based on the Bhutanese ngultrum.
In addition, Bhutan has previously disclosed holding Bitcoin as part of its strategic reserves, signaling an openness to decentralized assets alongside state-backed initiatives.
Ethereum-based digital identity underway
Beyond tokenized assets, Bhutan is also modernizing its national infrastructure through blockchain. The government is in the process of migrating its National Digital Identity system to Ethereum, with full implementation expected by early 2026.
This multi-chain approach highlights Bhutan’s strategy of adopting blockchain solutions based on use-case efficiency rather than committing to a single network.
Combining gold’s stability with blockchain efficiency
According to GMC, TER is designed to mirror traditional gold ownership while adding the benefits of blockchain technology, including transparent collateral verification, seamless wallet integration, and rapid settlement.
By combining gold’s long-standing role as a store of value with modern blockchain infrastructure, Bhutan aims to position TER as a trusted, government-backed digital asset accessible to both domestic and international participants.
