Bhutan Drops the World’s First Sovereign Gold-Backed Token: TER Launches on Solana

 Royal Gold on-chain

Officially launching TER, a fully gold-backed digital currency given on the Solana blockchain, the Kingdom of Bhutan is the first sovereign country to give its people and international investors a blockchain-native means to own and transfer real gold. With real-time on-chain proof of reserves, each TER token is 100% collateralized by ethically obtained bullion housed in safe vaults on behalf of the Kingdom.

Powered by homegrown innovation

Under the Gelephu Mindfulness City, Bhutan's futuristic, unique administrative area conceived to be a worldwide center for mindfulness and technology, TER is released. In the first phase, Matrixdock, a division of Matrixport, offers the tokenization technology and constant reserve certification on Solana's quick, inexpensive network, whereas DK Bank, Bhutan's first licensed digital bank, serves as the exclusive distributor and custodian.

Part of a Larger Blockchain Vision

Bhutan's aggressive digital plan—already comprising extensive Bitcoin mining utilizing hydropower, a Ripple-powered CBDC pilot, and a forthcoming national digital identity system on Ethereum—starts with the launch. By picking Solana for TER, Bhutan aspires to grab a slice of the fast expanding tokenized real-world asset market and position itself as the most forward-thinking blockchain country worldwide