BTSE Bhutan Secures Full License for Digital Asset Services in Mindfulness City

BTSE Exchange Pte Ltd (“BTSE Bhutan”) has been awarded a Financial Services License (FSL) by the Gelephu Financial Services Office (GFSO), which regulates the Gelephu Mindfulness City (GMC) Special Administrative Region.

The license comes after BTSE Bhutan obtained an In-Principle Approval in April 2026 and demonstrates that the firm has met all conditions set by the GFSO.

Under the FSL, BTSE Bhutan is permitted to operate a multilateral trading facility for virtual asset exchanges and offer institutional-grade custody services for holding and storing digital assets. With the license now active, the company is a fully regulated entity for trading and custody within the GFSO’s regulatory structure.

Phased launch of trading services

BTSE Bhutan plans to start onboarding users in the near future, initially launching spot trading for BTC/USDT and ETH/USDT. Additional cryptocurrency trading pairs will be added later, depending on the platform’s listing criteria and regulatory conditions. Fiat on-ramp and off-ramp services are scheduled for a subsequent phase, allowing users to convert US dollars and virtual assets directly on the platform.

All client assets will be kept under the company's licensed custody arrangements, complying with GFSO rules.

“Receiving our Financial Services License is a major milestone as we plan to launch our retail trading platform globally,” said Yew Chong Quak, CEO of BTSE Bhutan. “We are grateful to the Gelephu Financial Services Office for the rigor and clarity of its process. Our priority now is to launch Bitcoin and Ethereum trading services, expanding our offerings step by step, and holding ourselves to the highest standards of compliance and security as we build a virtual asset ecosystem that GMC can be proud of.”

Building in Bhutan

Since receiving its In-Principle Approval, BTSE Bhutan has hired key staff to manage core operations and is developing its presence in Gelephu, with plans to set up a local office as part of its commitments. The company intends to expand its team and recruit local talent to strengthen its operations in Bhutan over time.

About BTSE Bhutan

BTSE Bhutan is a licensed digital asset service provider based in the Gelephu Mindfulness City Special Administrative Region in Bhutan. Regulated by the Gelephu Financial Services Office, it runs a multilateral trading facility and institutional-grade virtual asset custody infrastructure, offering secure and compliant trading and custody services for digital assets.

About Gelephu Mindfulness City

The Gelephu Mindfulness City Special Administrative Region is a project to create a world-class economic hub in southern Bhutan, focusing on mindfulness, sustainability and innovation. The SAR combines traditional Bhutanese values with global legal standards, advanced design and technology, and uses the country’s abundant renewable energy to serve as a model for holistic development.