Bhutan Marks Its 118th National Day at Historic Wangduechholing Palace
Bhutan’s 118th National Day was celebrated at historic Wangduechholing Palace in Bumthang, marking the 70th Birth Anniversary of His Majesty the Fourth Druk Gyalpo, the launch of the TER token, and key national announcements on Gelephu Mindfulness City and Bhutan’s future.
Bhutan’s 118th National Day was commemorated with deep reverence and national pride at the historic Lingkathang of Wangduechholing Palace in Bumthang, the birthplace of the Wangchuck dynasty. The choice of venue carried profound symbolism, anchoring the celebration in the very roots of Bhutan’s monarchy while looking confidently towards the future.
National Day, observed annually on 17 December, marks the coronation of Bhutan’s first king, His Majesty Ugyen Wangchuck, in 1907. More than a ceremonial occasion, it is a day that reflects Bhutan’s journey as a nation—one shaped by visionary leadership, unity, compassion, and service to the greater good.
In the days leading up to 17 December, a strong sense of anticipation could be felt across the country. Public excitement steadily built as Bhutanese from all walks of life looked forward to a National Day that would reflect both the nation’s timeless values and its evolving aspirations. One such initiative was the Lucky Pem lucky draw, which generated widespread enthusiasm and disbursed more than Nu 15,000,000 (~USD160,000), reinforcing a spirit of shared celebration and goodwill.
This year’s celebration also looked firmly towards the future. On National Day itself, Bhutan officially announced the launch of the TER token, a milestone that reflects the country’s growing engagement with digital innovation and economic modernisation. The announcement sparked national and international interest, symbolising Bhutan’s careful yet confident step into the digital economy while remaining grounded in its core values.
What is Bhutan's TER token?
Bhutan’s TER token (the name is derived from the Dzongkha word for "treasure") is a sovereign gold-backed digital token officially launched on December 17, 2025.It represents a major step in Bhutan's strategy to blend its cultural heritage with cutting-edge blockchain technology
Core Features
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Asset Backing: Each TER token is backed 1:1 by physical, audited gold reserves. Specifically, one token represents 0.01 gram of .9999 fine gold.
- Blockchain Platform: The token is issued on the Solana network, chosen for its high transaction speed, low costs, and energy efficiency.
- Issuing Authority: It is issued by the Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan designed to be a global hub for sustainable innovation.
The TER token isn't just a cryptocurrency; it's a sovereign financial tool.
By tokenizing gold, Bhutan aims to:
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Lower the Barrier to Entry: It allows citizens and international investors to own gold in very small, affordable increments without the hassle of physical storage.
- Economic Resilience: It provides a stable, "safe-haven" asset class that is less volatile than traditional cryptocurrencies like Bitcoin (which Bhutan also famously mines)
- Digital Economy: It serves as a foundational "unit of value" for the emerging digital ecosystem within Gelephu Mindfulness City.
How to Purchase Bhutan's TER token?
- Register an account: Go to the official DK Bank portal (https://portal.ter.bt/login) and register for an account. You will need to provide your details and set up email two-factor authentication (2FA).
- Verify your identity: Complete the necessary identity verification (KYC) process to ensure compliance.
- Fund your account: Deposit funds into your DK Bank account. Currently, the portal primarily accepts payments in Bhutanese Ngultrum (BTN) and US Dollars (USD).
- Buy TER: Once your funds clear (which may take a business day for bank transfers), you can exchange your deposited currency for TER tokens within the platform.
The TER token is also currently accessible on global crypto exchanges such as Bitget and MEXC.
National Honours Conferred on the 118th National Day
As with every National Day celebration, His Majesty King Jigme conferred honours upon individuals who have made exceptional contributions to Bhutan and to humanity at large. These recognitions stand as a reminder that nation-building is a collective effort, carried forward by individuals from all walks of life—within Bhutan and beyond its borders.
• Karma Kelvin Dorji — National Order of Merit (Bronze) — For his service through volunteerism and unwavering support for vulnerable communities across Bhutan
• Late Tshering Penjor — National Order of Merit (Silver, Posthumous) — For his heroic and selfless act in sacrificing his life while rescuing children from drowning in Australia
• Tshewang Choden Wangdi — National Order of Merit (Gold) — For over 40 years of distinguished service as an educator shaping generations of Bhutanese students
• Kiran Sunda — National Order of Merit (Gold) — For a lifetime of dedicated service in educating and guiding Bhutanese children
• Lhadrip Ugyen Nima — National Order of Merit (Gold) — For more than four decades of dedicated service in preserving Bhutan’s cultural and artistic heritage
• Ujjwal Deep Dahal — National Order of Merit (Gold) — For outstanding contributions to Bhutan’s economic growth and digital transformation
• Khun Kampon Tansacha — National Order of Merit (Gold) — For his longstanding friendship and dedicated support to Bhutan
• Dato Adam Htoon — National Order of Merit (Gold) — For his enduring friendship and exceptional support to Bhutan, including humanitarian assistance during times of crisis
• Sabina Alkire — National Order of Merit (Gold) — For her outstanding contributions to global poverty alleviation and her long-standing support of Bhutan’s Gross National Happiness philosophy
• Fritz Baumgartner — National Order of Merit (Gold) — For over 30 years of dedicated service to Bhutan’s infrastructure and national development
• Ms. Julia Booth — National Order of Merit (Gold) — For her dedicated support to Bhutan and for strengthening Bhutan–Australia relations
• Family of Mrs. Daphne Hoch Cunningham — National Order of Merit (Gold) — For generations of friendship and longstanding support to Bhutan
• Family of Mrs. Lucy Goelet — National Order of Merit (Gold) — For sustained contributions to Bhutan through education, culture, and international collaboration
• Major General Sangay Thinley — National Order of Merit (Gold) — For lifelong dedicated service to the nation and to His Majesty the Fourth Druk Gyalpo
• Major General Chencho Dorji — National Order of Merit (Gold) — For devoted service to the nation and to His Majesty the Fourth Druk Gyalpo
• Dr. Tay Eng Hseon — Druk Thuksey Medal — For outstanding contributions to medicine and dedicated support to Bhutan’s healthcare development
• Dasho Kinley Dorji — Druk Thuksey Medal — For his pioneering role in journalism and contributions to media, governance, and Gross National Happiness
• Kesang Deki — Red Scarf — For her distinguished service to the Royal Government of Bhutan
Dr. Tay Eng Hseon receiving the Druk Thuksey medal from His Majesty
Dasho Kinley Dorji receiving the Druk Thuksey medal from His Majesty
Kesang Deki receiving the Red Scarf from His Majesty
Key Highlights from His Majesty The King’s National Day Address
• Unmatched unity and volunteer spirit: More than 17,000 Bhutanese volunteers, spanning four generations, came together this year to support initiatives in Gelephu. His Majesty highlighted that nothing compares to the meaning and joy of Bhutanese people physically building their own future.
• Strong public support for GMC: The overwhelming response to the Gelephu Mindfulness City (GMC) Nation Building Bond, including strong participation from Bhutanese living abroad, reflected deep trust and confidence in the project and its vision for the country.
• Spiritual foundations of GMC: GMC is envisioned not just as a city, but as a sacred space. Spiritual leaders responded enthusiastically to His Majesty’s call, with 14 spiritual projects already approved within a year, laying a strong spiritual foundation for the city.
• Clear milestones ahead: The Gelephu International Airport is expected to be completed by 2029. Even ahead of completion, the first international flight between Gelephu and Kolkata has been inaugurated, improving access and preparing for global engagement.
• A city built by Bhutanese, for Bhutanese: While global experts are supporting the project, His Majesty emphasised the importance of building local capacity. The Pelsung programme was introduced to empower Bhutanese youth to learn from experts and eventually take full ownership of GMC’s future.
• Economic opportunities with purpose: GMC is designed to attract international companies, create high-quality jobs for Bhutanese youth, and provide exposure to global standards, while remaining rooted in Bhutanese values of integrity, trust, and compassion.
• Strong national and international backing: The project enjoys united support from the Bhutanese people, the Royal Government, Parliament, civil service, armed forces, and international partners—especially India, whose government has pledged wholehearted support.
• A responsibility to be ambassadors: As Bhutan opens up further, His Majesty reminded Bhutanese of their role as ambassadors, explaining clearly to the world why GMC is being built and what it seeks to achieve.
• GMC’s deeper purpose: The project exists to protect what makes Bhutan unique—its people, culture, spirituality, and Gross National Happiness—while creating prosperity, resilience, and long-term security for future generations.
• The world’s first Buddhist city: GMC is envisioned as something entirely new—a Buddhist city for Bhutan and the world—built with devotion, purpose, and love, where meaning matters as much as productivity.
• Careful, deliberate growth by design: His Majesty stressed that GMC is not about population size alone, but about creating the right market, opportunities, and ecosystem through thoughtful planning and clear objectives.
• Land protection and equity: Land within GMC will be safeguarded through a share-based structure tied to land ownership, ensuring land remains with Bhutanese people and that benefits are shared equitably across all 205 gewogs.
• Long-term financial security: To anchor GMC’s future, 10,000 BTC from Bhutan’s Bitcoin mining reserves will be allocated as a strategic reserve, ensuring stability and long-term benefits for the nation.
• Confidence rooted in the people: His Majesty expressed unwavering confidence that Bhutan will succeed, drawing strength from the unity, dedication, and shared purpose of the Bhutanese people.
• A clear call forward: The address concluded with a call for collective responsibility and determination, reaffirming His Majesty’s commitment to serve the nation and to pass on a stronger, more prosperous Bhutan to future generations.
The 118th National Day celebration served as a powerful reminder that Bhutan’s strength lies not only in its institutions and traditions, but in the people who quietly dedicate their lives to service, compassion, and excellence. Held at Wangduechholing Palace—where the story of modern Bhutan began—the occasion reaffirmed a timeless national truth: that progress, when guided by values, leaves a legacy far greater than achievement alone.
Full Speech and Translation from His Majesty The King’s National Day 2025 Address
I am honoured to mark this occasion here in Bumthang, a sacred land blessed by Guru Rinpoche and Longchenpa, the birthplace of Pema Lingpa, and the ancestral home of the Wangchuck dynasty. I speak to you today from the grounds of Wangduechhoeling Palace, built by Jigme Namgyel, where Gongsar Ugyen Wangchuck was born. There couldn’t have been a more fitting place to honour our forefathers and to reaffirm our pledge to serve Bhutan with courage, determination, and unwavering dedication.
To all Bhutanese watching the celebrations, you are in our hearts wherever you are.
As we all know, the Gelephu Mindfulness City (GMC) is of extraordinary importance for Bhutan’s prosperous future. I would like to share updates on the progress we have made.
The love, loyalty, and dedication of the Bhutanese people, and their understanding of what our country needs, is truly unmatched. This was clear when over 17,000 volunteers from all walks of life, spanning four generations — from children to the elderly, came forward to support the three volunteer programs organized at Gelephu this year. Jetsun and I, along with our children, also joined in the work, and it was deeply moving to see familiar faces, such as Lopen Basokarp, a revered spiritual figure in his 90s, taking part. While outsourcing such work might be convenient, just as nothing compares to the warmth and specialness of a home-cooked meal, nothing compares to the joy and meaning of our own people coming together to physically build our future. Thank you for your spirit, warmth, and unity.
Similarly, when the GMC Nation Building Bond was announced earlier this year, an overwhelming number of people came forward to participate, especially Bhutanese living abroad, contributing their hard-earned money out of a genuine desire to support the GMC. I truly appreciate your participation, which reflects your commitment and the confidence you have in this project.
Gelephu is a beautiful, green, and fertile land, surrounded by forests. We are in Bumthang a sacred land blessed with ancient spiritual heritage, and for Gelephu, we want to create a similar sense of sacredness. I asked the Je Khenpo, the Dratshang, Lams, Trulkus, and spiritual leaders to help build that sacredness by establishing lhakhangs, dzongs, temples, and spiritual centres.
We expect the Gelephu International Airport to be completed in 2029. When the first visitors arrive in Gelephu Mindfulness City, it will be a place of spirituality, representing the best of what our blessed Kingdom has to offer. I thank the spiritual leaders and their supporters who have contributed generously to help us realize this vision.
The GMC Project is a completely new endeavour for us, and to give it the best chance of success, we have engaged global experts in specialized fields. However, we cannot forever rely on foreign experts. We must actively engage and learn as much as possible, so that we can eventually manage GMC independently. Pelsung was introduced this year to mobilize and empower the youth for this purpose. The very best of our young Bhutanese were selected for Pelsung to shadow experts and learn from them. Their task is to become the people we rely on to run GMC in the future. Our youth came forward in large numbers eager to take on this responsibility, and I am immensely heartened to see such commitment and dedication.
There is a great deal of activity at the GMC International Airport, with people working tirelessly to meet the target of completion by 2029. However, this is much more than a building project. Just as our parents’ generation built the Thimphu-Phuentsholing highway through sweat and toil, bringing remarkable transformation to Bhutan, our equivalent today is this airport. The work being done now carries the karmic merit of building ten thousand Zangdopelri, because it will pave the way for a stronger, more prosperous nation and enable the flourishing of the Dharma and the legacy of Guru Rinpoche and Zhabdrung Ngawang Namgyel.
Meanwhile, even as we continue work on the airport, the first international flight from Gelephu to Kolkata has already been inaugurated, making GMC more accessible to the outside world. This is in preparation for the offices international companies are set to establish in Gelephu. We have received over 50 applications from international companies, of which 28 have been approved for next year and 33 are under review. For this, 70 buildings in the existing Gelephu town are being renovated to combine the beauty of Bhutanese architecture with international standards of comfort.
Bhutan is truly a blessed land. As we pursue the most important national objectives for Bhutan’s future and prosperity, we are supported by commitment from every quarter. Our religious community and elders continue to offer prayers to remove obstacles and guide us spiritually.
As we move forward, Bhutanese will have increasing interactions with people from outside the country, many of whom will want to know about the Gelephu Mindfulness City. When they do, it is our responsibility to be ambassadors for Bhutan and explain clearly why we are undertaking this work and what we hope to achieve.
When people ask me why we have begun this new journey with GMC, my answer is simple. It is for Bhutan, to protect and preserve all that is special about this blessed land. Bhutan is known for its compassionate people, its rich and living culture, its deep spiritual heritage, and its philosophy of Gross National Happiness, which continues to inspire the world. We are also a young democracy, still learning, growing, and strengthening our institutions. All of this is precious, and all of it deserves to be safeguarded.
GMC is also for the Bhutanese people. It is to look after their well-being, create opportunities for prosperity, and secure a confident and hopeful future for our children. It is to ensure that our young people are educated, capable, resilient, and able to stand shoulder to shoulder with the best anywhere in the world. Finally, it is about the survival and strength of Bhutan as a nation. The world around us is changing rapidly, and uncertainty and instability are becoming more common. It is in good times that we must strengthen our country, so that when challenges arise, Bhutan remains secure, self-reliant, and able to endure. By preparing today, we protect our future and ensure that Bhutan can continue on its own path with confidence.
What we are building with Gelephu Mindfulness City is beyond a megacity or a Special Economic Zone. We are building something that does not yet exist anywhere in the world: the first Buddhist city – not only for Bhutan, but also for the world. There is no one better suited to build it than the Bhutanese people. We have all the preconditions and the ingredients – we have legacy, identity, institutions, experience, talent, and an abundance of knowledge. Above all, we will build the first Buddhist city with love and devotion.
During the 70th Birth Anniversary of His Majesty the Fourth Druk Gyalpo, we came together for the Global Peace Prayers, and held Jabzhi Dechog, and the Kalachakra. It was deeply moving and profoundly blessed. That experience offered us a glimpse of what is possible. It was only the beginning. When GMC takes shape, that spirit will find a permanent home and expression.
At the same time, GMC is being built with a clear understanding of the world we live in. Asia is rising. India and China together account for more than a third of the world’s population and are among the fastest-growing economies. Our region is gaining momentum, and the world’s leading companies are looking to Asia for opportunity. GMC will be a place where business can be conducted with confidence, supported by strong institutions, clear laws, and reliability. Asia holds the future, and we will build the gateway to Asia.
In a very modest and humble manner, we would like to make a small contribution in unlocking the vast potential in our region. That requires an infrastructure to be built around it. We will build this center in GMC, and we will make sure that this financial ecosystem is built on integrity, trust, loyalty, and above all, security. As we do this, we will remain mindful. We will not replicate what has been done elsewhere or lose sight of who we are. Bhutan has a reputation that has been earned over generations. Our people are known for their integrity, honesty, and compassion. This identity is our greatest strength, and it must guide every step we take. GMC will stand as a city grounded in these values, where purpose matters as much as profit or productivity.
Many wonder how a small country like Bhutan can undertake such an ambitious project. Other nations have greater populations and more wealth. Yet we have a unique advantage. Where larger populations would struggle with disunity and disagreements, we have the strength of harmony and shared purpose. Our unity will allow us to move mountains. On top of this, we enjoy peace and security which we are continuing to strengthen. We are sharpening our tools, and GMC will be the edge that helps Bhutan become stronger.
Some ask whether GMC is being built to bring Bhutanese youth abroad back home. My answer is no, it is not about enticing them to return as in the past, when countries needed professionals to study abroad and come back. Today, knowledge and experience are gained everywhere. The Bhutanese abroad are an asset. They are learning, growing, and acquiring skills. I know that wherever they are, their hearts remain in Bhutan. They are loyal, and they want to serve their country. It is our responsibility to create a place where they can return, when the time is right, to contribute to Bhutan’s future.
Others ask whether we are building a city simply to create a larger population base and more jobs. Again, the answer is no. Our ambitions are far greater. A large population alone does not guarantee success. We need the right people, the right market, and a city built by design, with carefully defined objectives. Every parameter must be clear, every target set, every strategy, deliberate. Nothing should be left to chance.
To illustrate, consider the price of a simple item like a plate of momo. In Thimphu it may cost 90 Ngultrum, in Australia 500. A city alone does not make a difference. Success depends on creating the right market, a city where even higher-priced offerings can find buyers. We are not trying to copy larger nations. Australia has size and wealth beyond ours, but Bhutan can be richer in opportunity, richer in possibility. We are building a city of opportunities. A place where people can thrive and prosper.
Take the airport, for example. One million people may pass through initially, then three, then five, perhaps eventually ten million. Each visitor represents opportunity – spending time, consuming, and engaging. Ten million cups of tea or coffee, ten million experiences, ten million opportunities. This is how GMC will create wealth and opportunity – by design, with vision, and with intention.
I am confident that we will succeed, and my confidence comes from the people of Bhutan. I trust their judgement, determination, loyalty, and hard work. As long as we stand together behind a common goal, we will succeed. Bhutanese can shoulder responsibility, serve diligently, and rise to every occasion. Ultimately, through a Buddhist lens, our aspiration is threefold: a strong economy in the outer realm, prosperity for our people in the inner realm, and a strong spiritual foundation in the secret realm.
As work on GMC progresses, one matter weighs heavily on my mind: the management of land. Even if all other aspects of GMC proceed smoothly, mishandling land could undermine the entire project. Much of the private land within GMC belongs to rural families, including many who received Kidu from His Majesty the Fourth Druk Gyalpo. This land is precious, and if it were to leave the hands of its rightful owners due to rumours, impatience, or lack of information, it could create serious challenges. In Thimphu and Paro, we have already seen how opportunities can benefit the well-prepared while others are left behind. Loss of land leads to regret, social divides, and disharmony.
As GMC grows and attracts wealthy international investors, pressure to sell or change laws may increase, and we must ensure that this land remains in the hands of the Bhutanese people. Moreover, GMC is a project for all Bhutan. It must benefit every Bhutanese equitably, including those who do not currently own land within Gelephu. Ownership fosters commitment, and commitment must be intergenerational and safeguarded. Success should benefit not only the present generation but many to come. Every Bhutanese must contribute, shape, and protect the future of GMC, and in doing so, the future of Bhutan. With dedication, shared responsibility, and determination, GMC will rise to its full potential.
However, I am confident that all our endeavours are blessed by our protective deities. That is why, for this challenge too, we have found a solution: GMC will be structured as a company, with shares tied to land holdings. Landowners will retain their stake. Of the one million acres within GMC, 94 percent is state land, reserved for Bhutan and shared among the people of all 205 gewogs. This ensures that landowners maintain their holdings and benefit from GMC’s growth, while all Bhutanese share in the prosperity it creates. This framework will bridge gaps between the “haves” and “have-nots,” provide opportunities for youth, and support experienced entrepreneurs while cultivating a new generation of capable, productive entrepreneurs. In this way, GMC becomes a platform for the future of the nation, benefiting everyone.
If this project were to fail, we could always return to simpler livelihoods, but with careful planning and collective effort, its success will surpass all expectations. And I am determined that GMC will succeed, and its benefits accrue to all Bhutanese.
To provide a strong financial backing, from the Bitcoin mining project which we so carefully undertook a few years ago, 10,000 BTC, valued at around one billion US Dollars, will be allocated to GMC as a long-term strategic reserve. This ensures that the project is secure and its benefits are preserved for our people, our youth, and our nation.
Let us move forward without delay. Together, we will build the future of Bhutan, protect the country we have, secure our collective future, and hand Bhutan to the next generations stronger, better, and more prosperous.
I feel blessed to share this announcement with you on this special occasion, at this special place, the home of Jigme Namgyel and Gongsar Ugyen Wangchuck.
Above all, I am privileged to serve this blessed land and my people as King.
Tashi Delek.
