Gelephu Mindfulness City, Bhutan's special administrative region in the south of the country, is turning its financial regulator into a full central bank. King Jigme Khesar Namgyel Wangchuck signed a Royal Decree granting central banking powers to the Gelephu Financial Services Office, which will become the Gelephu Central Bank.

The new institution will run monetary policy, foreign reserves, payment systems and financial supervision within GMC. The decree also opens a path to a GMC currency, including a possible digital form, subject to the King's concurrence.

The Gelephu Central Bank will be authorised to invest reserves in digital assets and cryptocurrencies alongside conventional assets.

The authority does not commit the bank to any specific token, and rules on custody, risk and reserve composition are still to be published. The transition timetable and coordination with the Royal Monetary Authority, Bhutan's national central bank, have not been outlined yet.