Bhutan has introduced TER, a fully gold-backed digital token built on the Solana blockchain, marking a new chapter in the country’s growing push into blockchain infrastructure and tokenized assets.
The announcement came from the Special Administrative Region of Gelephu Mindfulness City (GMC), which described TER as a sovereign-backed asset designed to mirror traditional gold ownership while offering modern settlement features.
A Gold-Backed asset for the digital era
TER is fully collateralized by physical gold reserves, giving the token a clear link to a historically stable store of value. GMC said the token offers on-chain transparency for both domestic and international users, allowing investors to access gold-backed value without handling physical bullion.
The token operates on the Solana network, which Bhutan selected for its transaction speed, low costs and energy efficiency.
The name TER, meaning “treasure” in Bhutan’s national language, signals the country’s intention to present the token as a familiar yet modern form of asset ownership.
Infrastructure and distribution
DK Bank, Bhutan’s first licensed digital bank, will serve as the exclusive distributor and custodian responsible for token issuance and managing the underlying reserves. Matrixdock provides the tokenization infrastructure that connects the physical gold to the Solana-based asset.
According to GMC, those partnerships are intended to establish a reliable framework in which the token can operate without compromising the regulatory standards of Bhutan’s financial system.
Part of a wider digital ambition
TER is one component of Bhutan’s broader digital asset strategy. The Royal Monetary Authority has already partnered with Ripple to pilot a digital version of the ngultrum, the country’s national currency. Bhutan has also accumulated Bitcoin as part of its strategic reserves, according to earlier reports.
In parallel, the government is migrating its National Digital Identity platform to Ethereum, with completion expected by early 2026. Together, these initiatives point to a long-term attempt to integrate blockchain into core layers of Bhutan’s financial and administrative infrastructure.
The country has been developing new ways to use blockchain technology in sectors that traditionally rely on slow or fragmented payment systems. One of the most visible examples is its partnership with Binance to support a national crypto-powered payment model for tourism.
Binance described the initiative as a first of its kind, offering an integrated, end-to-end payment system that allows travelers to make purchases using cryptocurrency while settlements are handled locally. Richard Teng, Binance’s CEO, said the collaboration reflects a shared view that modern payment tools can strengthen connections between people and economies. He noted that the model not only improves the travel experience but also demonstrates how digital finance can support cultural and economic exchange.
Launch set for December 17
The TER token officially debuts on December 17. The government believes that combining a familiar asset such as gold with Solana’s fast settlement capabilities may attract both new and experienced investors seeking stable, easily transferable value. Transfers are near-instant, and the token can be held directly inside compatible digital wallets.
GMC said the goal is not speculation, but accessibility: a globally portable, government-backed token that reduces friction in owning gold and participating in Bhutan’s evolving digital ecosystem.
Initially, TER will be available through DK Bank before expanding to additional platforms. Bhutan views the token as a step toward creating a broader environment for regulated tokenized assets rather than a standalone project.
Gunel Ismayilova
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