Gelephu speeds fintech licensing with DK Bank accounts

Gelephu Mindfulness City on May 12 launched an accelerated licensing pathway that lets firms already regulated in Singapore, Abu Dhabi Global Market (ADGM) or Hong Kong complete licensing and bank onboarding in a single coordinated process.

The process combines company incorporation, regulatory review and bank account opening into one workflow linked to DK Bank, GMC’s official banking partner. GMC said every company that receives a license will also receive a corporate account at DK Bank as part of the approval process.

DK Bank supports nine currencies: USD, GBP, EUR, AUD, JPY, SGD, INR, HKD and BTN. The bank offers BTC-backed lending, digital-asset swap services and integrated fiat-crypto on- and off-ramps. Banking fees will be waived for at least six months for newly licensed companies, with discounted pricing thereafter.

GMC operates a territorial tax system similar to Singapore and Hong Kong. Qualifying firms may access a 0% corporate tax rate depending on investment levels. The jurisdiction does not impose capital gains, dividend or inheritance taxes. Foreign talent tax exemptions are available through 2030.

GMC’s legal framework draws on Singapore’s common law and models regulatory principles on ADGM. The jurisdiction supports Variable Capital Company structures and maintains an International Dispute Resolution Centre for cross-border investment disputes. GMC also has a double taxation agreement with Singapore.

Jigdrel Singay, a GMC board member and the digital assets and fintech lead, described the pathway as a recognition of prior regulatory credibility and said it is designed to speed operational readiness: “If a company has already demonstrated credibility in leading jurisdictions, we recognize that and enable them to move faster.” Ian Loh, CEO of payments firm Ceffu, described the process as rigorous but collaborative and praised GMC’s clarity of vision. John Ge, co-founder and CEO of BIT, called the accelerated review process “fast and pragmatic” and noted constructive engagement from regulators.

On-chain analysis shows Bhutan’s wallet balance at roughly 3,119.45 BTC. A transfer of 100 BTC to a new address was recorded the same day the pathway was announced.

Regulators said the program aims to attract regulated financial and digital-asset firms by offering a coordinated licensing-and-banking process paired with a territorial tax regime and legal structures aligned with established international centers.