Canadian digital asset manager 3iQ Corp. has secured a mandate to manage 10,000 Bitcoin allocated to Bhutan's Gelephu Mindfulness City project, marking a significant international expansion for the firm. The partnership includes plans to establish a physical presence in the region and invest in local workforce development as Bhutan positions the city as a digital financial center.
Strategic Partnership Details
3iQ, Canada's largest and longest-operating digital asset fund manager, will oversee the Bitcoin reserves designated for the Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan. The firm's commitment extends beyond asset management to include knowledge transfer and building local capabilities, according to statements from both parties.
Pascal St-Jean, 3iQ's CEO, emphasized alignment with GMC's vision to create an economic hub that attracts global talent while respecting Bhutan's cultural and environmental principles. GMC Board Director Jigdrel Singay cited the firm's institutional expertise and dedication to investing in people as key factors in the selection.
Implications for Bhutan's Digital Economy
Bhutan has quietly accumulated Bitcoin since beginning mining operations in 2019. The country publicly disclosed its holdings in 2024 and announced in January 2025 that it would diversify into other cryptocurrencies. The GMC project represents Bhutan's strategic effort to diversify its economy beyond traditional revenue sources like hydropower and tourism.
The initiative draws parallels to El Salvador's Bitcoin City proposal announced in 2021, which similarly aimed to create a tax-free economic zone to attract tech entrepreneurs and digital nomads through Bitcoin-backed financing.
Workforce and Talent Development Opportunities
The partnership signals growing demand for blockchain professionals with institutional asset management experience, particularly those willing to work in emerging crypto-friendly jurisdictions. 3iQ's commitment to establishing local operations and transferring knowledge suggests forthcoming opportunities for web3 professionals interested in international roles that combine digital asset management with economic development initiatives.
For professionals in asset management, regulatory compliance, and blockchain infrastructure, projects like GMC represent a new category of career opportunities at the intersection of sovereign wealth management and digital assets.
