Gelephu Mindfulness City (GMC), the special administrative region Bhutan is building as a digital offshore financial hub, has brought in Canadian digital-asset manager 3iQ to manage part of its Bitcoin treasury. The mandate marks one of the more unusual sovereign-adjacent Bitcoin management deals struck so far in 2026.
The arrangement traces back to December 2025, when Bhutan announced that up to 10,000 BTC from its national holdings would be allocated to support GMC's development. Neither party has disclosed exactly how much of that stash now sits under 3iQ's management, nor detailed the custody arrangements or whether the mandate allows for lending, derivatives, or other yield-generating strategies.
3iQ commits to a long-term presence
Beyond managing the assets themselves, 3iQ says it will establish a long-term physical presence in Gelephu, investing in local talent and running training and knowledge-transfer programs for the region. That commitment positions the firm as more than a passive custodian, tying its institutional reputation to GMC's broader ambitions.
3iQ CEO Pascal St-Jean framed the arrangement as an extension of the firm's existing approach to institutional-grade digital asset management.
3iQ would apply institutional discipline to manage Bhutan's capital “responsibly, transparently and for the long term.”
A founding partner for a digital finance hub
Gelephu board director Jigdrel Singay described 3iQ as a founding institutional partner for the city, language that signals Bhutan intends to lean on established asset managers as it builds out GMC's investment infrastructure rather than managing large Bitcoin positions entirely in-house.
The partnership fits into Bhutan's broader strategy of positioning Gelephu as a hub emphasizing innovation, sustainability, and institutional-grade asset management — an approach that stands in contrast to the country's earlier, more insular Bitcoin mining operations. Whether other sovereign holders follow Bhutan's lead in outsourcing treasury management to specialized firms like 3iQ may become clearer as GMC's development progresses through the rest of 2026.
