Bhutan Launches Gold-Backed TER Token on Solana Blockchain

The Gelephu Mindfulness City issues the TER token under a sovereign framework, with DK Bank overseeing issuance and custody in its first purchase phase.

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Summary

Bhutan has introduced the TER token, a gold-backed digital asset issued under the sovereign framework of the Gelephu Mindfulness City. The token is issued on the Solana blockchain, with DK Bank managing both issuance and custody. In its initial phase, purchases can be made directly through DK Bank, combining traditional buying familiarity with the transparency provided by blockchain technology.

Terms & Concepts
  • Gold-backed digital asset: A cryptocurrency whose value is directly tied to a specific quantity of gold, providing price stability and asset-backed security.
  • Solana blockchain: A high-performance blockchain platform known for low transaction fees and fast processing speeds.
  • Custody: The secure storage and management of digital assets on behalf of investors or institutions.