The Bhutanese government announced a collaboration with the Solana blockchain to issue the world's first sovereign gold-backed token on the Solana chain on December 17, 2025, named #TER , which means treasure in Bhutanese.

The issuance of #TER is an important sovereign digital currency experiment, essentially a sovereign issuance, physically backed by gold, and a blockchain-based currency certificate. This marks the country's entry into the crypto space in a more mature way, moving beyond just a simple Bitcoin ETF to creating digital assets that align with national strategy.

Regardless of success or failure, it is a bold attempt.