BTSE Bhutan Secures Financial Services License in Gelephu Mindfulness City

BTSE Bhutan has secured a Financial Services License from the Gelephu Financial Services Office to operate a multilateral trading facility for virtual assets and provide custody services. The license allows BTSE Bhutan to carry out regulated activities within the Gelephu Mindfulness City Special Administrative Region in Bhutan.

The company will initially launch spot trading services for BTC/USDT and ETH/USDT trading pairs, with more crypto trading pairs introduced in subsequent phases. Client assets will be held under BTSE Bhutan's licensed custody arrangements, meeting GFSO requirements.

BTSE Bhutan's CEO, Yew Chong Quak, stated that receiving the license is a major milestone for the company and expressed gratitude to the Gelephu Financial Services Office for its rigorous process. The company plans to launch Bitcoin and Ethereum trading services while expanding its offerings step by step.

BTSE Bhutan has been building out its presence in Gelephu since receiving its In-Principle Approval, with plans to establish a local office. The company will continue to grow its team and hire local talent to support its operations in Bhutan over time.