Blockchain analytics company Nansen is establishing a local entity and building a team in Bhutan's Gelephu Mindfulness City (GMC). This expansion integrates Nansen into the kingdom's advancing digital asset strategy.
The company plans to develop on-the-ground analytics capabilities within GMC, offering blockchain data and market intelligence to regional industry participants. Gelephu Mindfulness City, a Special Administrative Region in southern Bhutan, is focused on long-term economic development and has initiated digital asset initiatives including custody infrastructure, tokenization, and regulatory frameworks.
Nansen CEO Alex Svanevik stated the move adds an entity within GMC, emphasizing the "vision behind it." He noted Bhutan's unique approach, integrating digital assets into its economic framework from inception, describing it as a "values-driven economic zone with digital assets baked into the foundation."
Nansen intends to hire locally, aiming to build a "meaningful local team." The platform, described as AI-native, tracks over 500 million labeled blockchain addresses across major networks.
Gelephu Mindfulness City, announced in 2023, is designed as a new economic hub attracting businesses in finance, green energy, technology, and healthcare, offering regulatory flexibility for crypto and fintech. The Bhutanese government has committed up to 10,000 Bitcoin from national holdings to support the city's development. Market maker Cumberland DRW has also signed an agreement to help develop digital asset infrastructure in GMC.
Bhutan holds one of the world's largest national Bitcoin reserves. The country's crypto strategy is led by Druk Holding and Investments (DHI), the royal government's commercial arm. Profits from Bitcoin holdings have reportedly supported government salary payments.