Solana Scores Sovereign Use Case With Bhutan’s Gold-Backed TER
- Bhutan’s TER token ties physical gold to digital assets using Solana’s low-cost blockchain.
- DK Bank has been exclusively appointed as the distributor and custodian for TER tokens.
Bhutan’s Gelephu Mindfulness City (GMC) has introduced a gold-backed digital token called TER. It runs on the Solana blockchain with sovereign support, providing the network with a legitimate use case. This move places Bhutan among the few countries directly backing blockchain-based finance with real-world assets, signaling a shift in how smaller nations approach digital finance.
To provide transparency and security, GMC has tied up with DK Bank, which is the first digital bank in the country that operates in a regulated manner. DK Bank will serve as the exclusive custodian and distributor of TER. Users can purchase the token through DK Bank in a way similar to buying gold from a financial institution. At the beginning, the tokens will be held in institutional custody, ensuring a secure experience for investors.
Jigdrel Singay, a member of GMC’s board, stated,
Solana and Matrixdock Back Technical Rollout
The TER token operates on Solana’s blockchain, selected due to its low transaction costs, high processing speed, and low environmental impact. Solana Foundation President Lily Liu stated,
Matrixdock, part of the Matrixport Group, is the technology partner tasked with executing tokenization. The company is known for building infrastructure for real-world asset tokenization. Matrixport CEO John Ge commented,
The token has been designed to appeal to international investors looking for safe exposure to gold, but with the added flexibility of digital ownership. As global economic uncertainty pushes interest in secure hedging options, TER positions itself as a tax-efficient and reliable option backed by a sovereign authority and fully audited gold reserves.
Bhutan’s Broader Blockchain Push
Bhutan’s move with TER follows several digital milestones. In October, it became the first country to anchor its national digital identity system on Ethereum, aiming to let all 800,000 citizens access services through a blockchain-based ID by 2026. Earlier in May, it adopted Binance Pay for crypto payments across tourism and select merchants.
Bhutan is also among the few countries mining Bitcoin since 2018 using renewable hydropower. This has placed it among the world’s top holders of Bitcoin. The country views blockchain not just as a financial tool, but as a foundational element of national infrastructure.
The TER project surfaced days after Kyrgyzstan launched its own gold-backed stablecoin, USDKG, pegged to the U.S. dollar and valued initially at $50 million. Both projects signal a wider regional trend where governments use blockchain not to replace traditional finance, but to reinforce it through regulation and resource linkage.
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