BTSE Bhutan receives financial services license for digital assets

BTSE Bhutan has been granted a Financial Services License (FSL) by the Gelephu Financial Services Office (GFSO), the regulator for the Gelephu Mindfulness City (GMC) Special Administrative Region. This license follows an in-principle approval received in April 2026.

The FSL authorizes BTSE Bhutan to operate a multilateral trading facility for virtual asset exchange and to provide institutional-grade custody services for the storage of virtual assets. The company plans a phased rollout, beginning with user onboarding in the coming weeks. Initial spot trading services will focus on BTC/USDT and ETH/USDT pairs, with additional trading pairs and fiat on-ramp/off-ramp services planned for later stages.

CEO Yew Chong Quak stated that the license is a major milestone for the company’s plans to launch a retail trading platform globally, emphasizing a commitment to compliance and security within the GMC ecosystem.