Crypto exchange Bitget has entered a cooperation agreement with the Gelephu Mindfulness City Authority to establish a regulated presence in Bhutan’s Gelephu Mindfulness City. The arrangement sets out plans for the company to create a legal entity in the special administrative region and apply for a Financial Services Licence from the Gelephu Financial Services Office.

The partnership covers joint work on operational, compliance and ecosystem development measures. All activities remain subject to the necessary regulatory approvals under the framework that governs financial and virtual asset services in the city.

Plans for Local Entity and Licence Application

Bitget intends to build a physical footprint in Gelephu Mindfulness City over time, including local hiring and an office presence. The company stated that this setup will support talent development, knowledge transfer and capability building alongside its exchange activities.

Gelephu Mindfulness City, located in southern Bhutan, is being developed as a Special Administrative Region intended to serve as an international centre for finance and innovation. Virtual asset and financial services activities within or from the city fall under the Financial Services Act 2025 and related rules. Firms must obtain a Financial Services Licence from the Gelephu Financial Services Office before offering regulated services.

Bhutan’s Broader Digital Asset Strategy

Bhutan has attracted attention for using surplus hydropower to power environmentally sustainable cryptocurrency mining. Authorities view the activity as one element of a wider programme to diversify the economy, generate employment and encourage skilled professionals to remain in the country.

The creation of Gelephu Mindfulness City forms the next phase of that effort. The city operates as an autonomous economic zone that aims to generate high-value roles in finance, technology and related fields. It is supported in part by national Bitcoin holdings. In a related development last week, the city authority appointed Canadian digital-asset manager 3iQ to oversee a portion of the Bitcoin allocated to the project’s development, with the firm also planning a long-term local presence and knowledge-transfer programmes.

In December 2025 Bhutan signed the Bitcoin Development Pledge, outlining pillars for responsible adoption of digital assets, institutional participation and the creation of a clear regulatory environment.

Context of Bitget’s Market Approach

The Bhutan agreement continues Bitget’s practice of pursuing jurisdiction-specific regulatory pathways. The company has recently secured registration on New Zealand’s Financial Service Providers Register across several categories and has outlined plans for a separate United States entity that would seek money-transmitter, broker-dealer and derivatives approvals. At the same time it has moved to wind down services for Japan residents after earlier regulatory warnings.

Under the Gelephu arrangement Bitget will focus on contributing exchange infrastructure expertise while supporting the development of local teams and capabilities within the city’s regulatory structure.