Bhutan Signs Important MoU to Build Crypto Infrastructure
Through a multi-year memorandum of understanding (MoU) with crypto market maker Cumberland DRW, Bhutan has initiated a new chapter to modernize its digital economy. The partnership reinforces Bhutan’s long-term vision by developing strong crypto infrastructure in Gelephu Mindfulness City (GMC) with the aid of technology.
According to a statement sent to Cointelegraph, Bhutan’s special administrative region noted that the partnership reflects the nation’s efforts to create a digitized economy that is modern and sustainable within the framework of governance.
Cumberland to Support Bitcoin Reserves and Workforce Development
The board director of GMC, Jigdrel Singay, explained the scope of the partnership. Cumberland will help manage Bhutan’s bitcoin reserves and operate in GMC, as well as recruit from the local market. Moreover, it will send experts to train the local community to benefit from global crypto knowledge.
The Gelephu Mindfulness City will serve as a global talent hub balancing technology, sustainability, and mindful urban planning. The city will provide an ideal environment for developing crypto infrastructure with social and environmental objectives.
Also Read : Poland’s President Blocks Controversial Bill, Sparks Political Firestorm
Investigating a National Crypto Ecosystem
Cumberland is a Chicago-based trading firm that has been providing liquidity in the crypto market since 2014 across spot and derivatives markets. Cumberland is part of the larger company DRW.
According to the MoU, Cumberland and Bhutan plan to establish a national crypto ecosystem. Key actions include:
- Bitcoin mining and AI compute operations powered sustainably
- Earnings-producing systems and stablecoin facilities
- Modern financial systems designed around Bhutan’s environmental priorities
A GMC-linked digital infrastructure company, Green Digital, is integrating computing powered by renewable energy with broader sustainability and economic diversification goals of Bhutan.
Bhutan: A Sustainability and Happiness Vision
Bhutan’s economic model is defined by Gross National Happiness (GNH), which emphasizes collective well-being over GDP growth. This philosophy makes Bhutan a natural partner for progressive and responsible innovation in the digital asset arena.
Donald R. Wilson, leader of DRW, commented:
“Bhutan, with its clear vision and commitment to sustainability, is a natural partner for responsible and forward-looking innovation.”
Dave Appel, EVP of Digital Transformation, added:
“We are pleased to support Bhutan in its efforts to build.”
It is important to note that the MoU covers cooperation areas and not binding obligations. Deployment of infrastructure and projects will still require future agreements.
Bhutan Enhances Its Digital Asset Ecosystem
Bhutan has embarked on sovereign Bitcoin mining, relying on surplus hydropower to create a national Bitcoin reserve from renewable energy. The country has integrated digital assets into strategic reserves of GMC and enabled crypto payments for tourism and merchant transactions. TER is a sovereign digital token backed by gold.
Bhutan’s approach to viewing Bitcoin, stablecoins, and blockchain infrastructure as economic and strategic investments rather than risky speculation is unusual for a nation.
Conclusion: Bhutan Leads in Sustainable Crypto Innovation
Currently, Bhutan is building crypto infrastructure through its partnership with Cumberland while ensuring environmental and social objectives are met. This demonstrates Bhutan’s leadership in global digital finance and governance and sets an example for other nations exploring a blockchain-based economy.
