Cumberland to Aid Bhutan in Launching National Stablecoin

Bhutan's GMC and Cumberland DRW to develop digital asset ecosystem.

The Gelephu Mindfulness City (GMC) Special Economic Zone in Bhutan and market maker Cumberland DRW have signed a memorandum of understanding. The partners will focus on developing the kingdom’s digital asset ecosystem and financial infrastructure.

Bhutan and Cumberland DRW have signed a multi-year MoU to build a responsible digital asset ecosystem in Gelephu Mindfulness City, guided by the vision of His Majesty King Jigme Khesar Namgyel Wangchuck.

The partnership focuses on sustainable digital asset infrastructure,… pic.twitter.com/IJR7t3oHYl

— gmcbhutan (@gmcbhutan) December 15, 2025

The parties have outlined key areas of cooperation:

• development of a regulatory framework for cryptocurrencies;
• eco-friendly mining and AI computations;
• yield generation from the country’s crypto reserves;
• creation of infrastructure for a national stablecoin.

The collaboration will also focus on training specialists and strengthening the country’s institutional capabilities.

The project will be led by Green Digital Ltd (a subsidiary of GMC) on the Bhutanese side. The company will provide computing centers powered by renewable energy. Cumberland will offer access to global liquidity and trading expertise.

Gelei Jamtsho, Chairman of Green Digital Ltd, stated that the partnership will combine Bhutan’s “green” infrastructure with capital markets. Donald Wilson, founder of trading firm DRW, confirmed the company’s readiness to support the development of a modern digital economy in the region.

The Role of Digital Economy in Bhutan

Bhutan is one of the first state bitcoin miners, utilizing hydropower. According to Bitcoin Treasuries, Bhutan ranks seventh globally in digital gold reserves, holding 5,984 BTC valued at over $536 million.

Earlier this year, GMC leadership announced plans to diversify strategic reserves by adding Bitcoin, Ethereum, and BNB. Later, through collaboration with Binance Pay, the kingdom’s tourism sector introduced cryptocurrency payment options. 

In October, Bhutan decided to transition its national digital identity system from the Polygon blockchain to Ethereum. In December, GMC issued a gold-backed token TER on the Solana blockchain.

Previously, ForkLog explored how one of the world’s most secluded countries taught the world about “green” mining.