Bitget just signed a cooperation agreement with Bhutan's Gelephu Mindfulness City Authority. The exchange now has a framework to set up shop locally and apply for a Financial Services Licence under the city's virtual asset rules.
This is the latest in a string of territorial expansion plays where Bitget hunts down regulatory approvals in select markets instead of operating in the gray zone. The company plans to establish a legal entity in Gelephu, hire locally, and build long-term operations there. Gracy Chen, Bitget's CEO, said the timing works because Bhutan combines renewable energy, forward-looking regulation, and long-term planning.
The agreement covers more than just licensing paperwork. Both sides committed to working together on regulatory compliance, ecosystem development, and building out the region's digital asset infrastructure. Bitget brings operational know-how and exchange infrastructure. Bhutan's financial hub gets international expertise and talent pipeline development.
Gelephu Mindfulness City sits in southern Bhutan and operates under the Financial Services Act 2025. Any company doing virtual asset activities there needs a license from the Gelephu Financial Services Office (GFSO). The city is being built as a Special Administrative Region to become an international finance and innovation center. Bitget's arrival signals confidence that this model can actually work. Of course, all this still hinges on getting the regulatory sign-offs.
This article is for information only and should not be construed as financial advice or investment guidance.
