Bitget explores a licensed crypto presence in Bhutan

Crypto exchange Bitget signed an agreement with the Gelephu Mindfulness City (GMC) Authority — a $100 billion autonomous economic zone in Bhutan focused on finance, technology and wellness. The agreement, as Cointelegraph reports, covers exploring a licensed local operation in the jurisdiction rather than a finalized licence — an early, exploratory stage.

What sets GMC apart is that the zone is partly backed by Bhutan's national bitcoin reserves. The authority already appointed Canadian asset manager 3iQ to manage a portion of those reserves earmarked for the city's development: 3iQ will build a long-term presence in Gelephu, invest in local talent, and handle knowledge transfer. Bitget appears to be aiming for a similar foothold, but on the exchange and trading-infrastructure side rather than asset management.

“GMC is the emerging hotbed for digital finance, and Bitget looks forward to contributing exchange experience, infrastructure knowledge and local talent development as this ecosystem grows.”

— Gracy Chen, CEO, Bitget

• GMC is a $100 billion Bhutanese autonomous economic zone, partly backed by the country's bitcoin reserves
• Bitget's agreement is at the exploratory stage, not a granted licence
• 3iQ has already been appointed to manage part of the bitcoin reserves earmarked for the zone's development

This isn't Bitget's only move like this: the exchange recently registered as a financial services provider in New Zealand, even as it winds down presence elsewhere — it announced an exit from the Japanese market in early August. The pattern suggests the company is reshuffling its footprint toward jurisdictions it sees as friendlier to crypto.

None of this should be read as personalized investment advice.