Bhutan Introduces Gold-Backed Token on Solana Blockchain
- Bhutan has launched TER, a sovereign-backed gold token on the Solana blockchain.
- The token is distributed exclusively by DK Bank and uses infrastructure from Matrixdock.
- Bhutan holds 5,984 BTC, valued at over $536 million, ranking it as the seventh-largest sovereign holder globally.
- Gelephu Mindfulness City issued the token, with each representing physical gold held in custody.
This launch is part of Bhutan’s ongoing blockchain integration strategy, which includes significant Bitcoin holdings and partnerships to enable crypto payments across tourism services. The introduction of TER reflects Bhutan’s commitment to aligning with stablecoin ecosystems while leveraging its natural resources responsibly.
Bhutan’s strategic move into blockchain technology showcases its innovative approach to integrating digital assets with traditional resources like gold, positioning itself as a forward-thinking nation in the cryptocurrency space. (Source)
