- Bhutan introduces gold-backed token TER on Solana.
- Issued by Gelephu Mindfulness City.
- Solana chosen for its efficiency.
Bhutan’s TER is a gold-backed digital token issued on the Solana blockchain by Gelephu Mindfulness City. Key partners include DK Bank and Matrixdock, with endorsements from the Solana Foundation and Matrixport, highlighting its sovereign-supported structure.
In a strategic move, Bhutan has announced its new gold-backed digital token, TER, on the Solana blockchain with key partnerships involving Gelephu Mindfulness City, DK Bank, and Matrixdock.
TER, a sovereign gold-backed digital token, is issued on the Solana blockchain, spearheaded by Gelephu Mindfulness City, with DK Bank and Matrixdock as key partners. Solana Foundation and Matrixport endorse the initiative, emphasizing its technological and economic significance.
Launch Details
The launch involves key players, including Gelephu Mindfulness City as the issuer, DK Bank as the exclusive distributor, and Matrixdock providing the tokenization technology. The Solana Foundation supports TER for its speed and low transaction costs.
Immediate Impacts Of TER
Immediate effects of TER’s introduction include reinforcing Bhutan’s stance in digital assets and showcasing Solana’s infrastructure benefits. It also highlights Bhutan’s ongoing adoption of blockchain technologies as part of its national strategy.
“As Gelephu Mindfulness City takes shape as a new global hub for mindful innovation, the launch of TER marks a foundational step in building a values-driven digital economy rooted in real-world assets and sovereign trust.” — Jigdrel Singay, Board of Director, Gelephu Mindfulness City (GMC)
Future Considerations
This move could signal a shift in sovereign cryptocurrency projects, focusing on using gold-backing as a secure and trusted model for digital assets. Bhutan’s prior crypto initiatives support its commitment to innovative blockchain integration.
Regulatory Framework
The regulatory framework within Bhutan sees DK Bank operating under the supervision of the Royal Monetary Authority. Technologically, TER represents a synergy of sovereign backing and blockchain efficiency.
