cryptobriefing.com
Gelephu Mindfulness City (GMC), Bhutan’s special administrative region for economic development, has introduced a fast-track licensing program for companies already regulated in jurisdictions such as Singapore, Hong Kong and the Abu Dhabi Global Market in a bid to attract global financial and digital asset firms, according to a Tuesday statement.
Under the system, qualifying companies can complete incorporation, receive regulatory approval, secure a corporate bank account with DK Bank and begin operations through a coordinated process intended to shorten setup timelines.
“GMC is designed to remove friction from the system. If a company has already demonstrated credibility in leading jurisdictions, we recognize that and enable them to move faster,” Jigdrel Singay, who oversees digital assets and fintech initiatives at the southern Bhutan economic hub.
The combination of expedited licensing and direct banking access transforms the onboarding process, allowing companies to move straight from approval to operation, Singay noted. He envisions a trusted platform for financial and digital asset innovation, where regulatory frameworks, infrastructure and execution are integrated from the outset.
“In most financial centers, getting licensed is only half the battle, getting a bank account is where companies get stuck,” DK Bank CEO Yu Dong Zheng stated. “We’ve removed that bottleneck. At DK Bank, companies setting up in GMC can operate from day one, with banking built into the process.”
GMC was established as an economic and innovation hub that blends urban development with national values. The masterplan outlines a low-rise, nature-integrated city featuring transport corridors, public infrastructure and mixed-use districts, all framed within a governance model granting autonomy under a royal charter.
Bhutan has pledged up to 10,000 Bitcoin to help fund the long-term growth of the city. Under the leadership of King Jigme Khesar Namgyel Wangchuck, Bhutan has built major crypto reserves through state-backed operations.
The commitment involves deploying Bitcoin mined using surplus hydropower resources to support infrastructure development, investment partnerships and broader efforts to strengthen economic resilience.