Bhutan is taking a significant step into the world of blockchain technology with the launch of TER, a fully gold-backed token on the Solana network. This move is part of a broader strategy that includes the development of tokenized assets, central bank digital currency (CBDC) pilots, and the migration of the national digital ID to the Ethereum blockchain.
Introduction to TER and Its Significance
The Gelephu Mindfulness City Special Administrative Region (GMC) has announced the launch of TER, a government-backed digital token that is fully collateralized by physical gold reserves. This token operates on the Solana (SOL) network, providing a blockchain-based representation of gold holdings. The initiative aims to offer domestic and international investors on-chain transparency and access to the asset class.
Bhutan’s Partnership with Solana and Other Initiatives
The partnership between Bhutan and Solana deepens with the launch of TER, which is designed to replicate traditional gold ownership while leveraging Solana’s blockchain infrastructure. DK Bank has been appointed as the exclusive distributor, while Matrixdock will provide the tokenization infrastructure that links physical gold reserves to the digital token. This launch is part of Bhutan’s broader digital asset strategy, which includes several blockchain initiatives such as a Ripple CBDC pilot and the accumulation of Bitcoin holdings as part of its strategic reserves.
Broader Digital Strategy and Future Plans
Bhutan is also in the process of migrating its national digital identity platform to the Ethereum blockchain, with completion expected by early 2026. The TER token is intended to enable instant settlement, global portability, transparent collateral verification, and integration with digital wallets. By combining gold as a store of value with blockchain infrastructure, Bhutan aims to create a government-backed tokenized asset that offers a unique investment opportunity.
The launch of TER and Bhutan’s broader digital strategy underscore the country’s commitment to embracing blockchain technology and digital assets. As more countries explore the potential of blockchain and cryptocurrency, initiatives like TER demonstrate the growing interest in tokenized assets and the use of blockchain for secure, transparent, and efficient transactions. For more information on Bhutan’s gold-backed TER token and its launch on the Solana blockchain network, visit https://crypto.news/bhutans-gold-backed-ter-token-launches-on-solana-blockchain-network/.
