Bhutan’s Gelephu Mindfulness City Fast-Tracks Crypto Firms’ Licensing With DK Bank Accounts

Bhutan’s Gelephu Mindfulness City launched an accelerated licensing pathway on Tuesday, giving companies already regulated in Singapore, Abu Dhabi Global Market, or Hong Kong a direct route to full operational status.

“Bhutan’s Gelephu Mindfulness City launched an accelerated licensing pathway on Tuesday, giving companies already regulated in Singapore, Abu Dhabi Global Market, or Hong Kong a direct route to full operational status, with a guaranteed bank account included”

Bitcoin News

The program, launched on May 12, 2026, is designed so qualifying firms move through incorporation, regulatory review, and bank account opening as a single coordinated process rather than sequential steps.

Bitcoin News

Gelephu Mindfulness City said every company that earns a GMC license receives a corporate account with DK Bank as part of the process, with DK Bank guaranteeing corporate accounts for all GMC-licensed companies.

The licensing framework also ties to tax incentives, including a guaranteed bank account and 0% corporate tax for qualifying firms, alongside foreign talent tax exemptions through 2030.

The city’s approach includes BTC-backed lending from day one and integrated on- and off-ramps between fiat and crypto, with DK Bank supporting multi-currency accounts across nine currencies including USD, GBP, EUR, and BTC-backed lending.

The licensing push comes as Bhutan’s Royal Government transferred approximately 100.44 BTC ($8.2 million) to an unlabeled address earlier on Tuesday, continuing an outflow streak that has topped $230 million so far this year, according to Arkham.

Bitcoin News also said onchain analysts noticed that Bhutan sent 100 BTC to a new address earlier on the same day, and that the country holds approximately 3119.45 BTC, according to stats collected by Arkham Intelligence.

Cointelegraph

Cointelegraph reported that Bhutan announced a “Bitcoin Development Pledge” in late 2025, committing up to 10,000 BTC from sovereign reserves to support GMC’s long-term build-out.

Cointelegraph added that Singay said reports of Bitcoin sales related to GMC were “incorrect” and that BTC remains pledged as part of the city’s strategic reserves.

The Block framed the licensing as an integrated review that combines regulatory and banking access, quoting the press release that “In GMC, they are integrated.”

Gelephu Mindfulness City said companies eligible for the accelerated licensing process must already hold licenses from established financial hubs such as Singapore, Abu Dhabi Global Market (ADGM), and Hong Kong.

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The Block

The city said companies that incorporate and receive a license in the city are provided with a corporate bank account through DK Bank, and it described the integrated model as removing “friction” between licensing and banking.

Jigdrel Singay, Board Member and Digital Assets & Fintech Lead, said, “Companies don’t just get approved — they get operational,” in describing the goal of aligning regulation, infrastructure, and execution from the outset.

Bitcoin News quoted DK Bank CEO Yu Dong Zheng saying, “Getting a bank account is where companies get stuck. We’ve removed that bottleneck.”

Cointelegraph added that Singay said the aim is to encourage “real” operations and job creation rather than structures set up primarily to shift profits for tax purposes, with foreign employees able to qualify for income tax breaks through 2030.