Crypto exchange Bitget is seeking an early foothold in Bhutan's emerging digital asset sector after signing a cooperation agreement with the Gelephu Mindfulness City Authority (GMCA), becoming the latest crypto firm to target the country's ambitious Bitcoin-backed financial hub.

The agreement allows Bitget to explore establishing a licensed local operation in Gelephu Mindfulness City (GMC), a planned $100 billion autonomous economic zone backed in part by Bhutan's national Bitcoin reserves.

While the deal does not grant Bitget an operating license, it positions the exchange to prepare for regulatory approval as Bhutan continues building one of the world's most ambitious government-supported crypto ecosystems.

Bitget prepares for regulated expansion

Under the agreement, Bitget will work with the GMCA to establish a legal entity in Gelephu Mindfulness City and, over time, develop a physical presence in the jurisdiction. The exchange will also prepare an application for a Financial Services Licence from the Gelephu Financial Services Office (GFSO), which regulates virtual asset businesses under the Financial Services Act 2025.

The partnership also includes collaboration on operational readiness, compliance, local hiring and talent development as Bitget positions itself for a regulated launch. However, all proposed activities remain subject to regulatory approval, with the agreement serving as a framework for cooperation rather than an immediate authorization to operate.

Gracy Chen, CEO of Bitget, described GMC as an emerging center for digital finance, saying the exchange aims to contribute its experience in exchange operations, market infrastructure and talent development as the ecosystem expands.

Bitget's move comes as Gelephu Mindfulness City accelerates efforts to establish itself as a regional hub for digital assets. Designed to attract investment across finance, technology and wellness, the autonomous economic zone has introduced its own regulatory framework for virtual asset service providers while leveraging Bhutan's Bitcoin reserves to support long-term economic development.

The agreement follows another high-profile crypto partnership announced last week, when GMC appointed Canadian digital asset manager 3iQ to oversee an undisclosed portion of the Bitcoin allocated to support the city's development. Under that mandate, 3iQ will establish a long-term presence in Gelephu, invest in local talent and provide training and knowledge transfer alongside managing part of the city's Bitcoin treasury.

Together, the two partnerships underscore Bhutan's strategy of attracting global crypto companies while building regulated digital asset infrastructure. As GMC continues rolling out its financial framework, Bitget's latest agreement signals that major industry players are increasingly viewing the Himalayan kingdom as a potential gateway for future crypto growth.