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Chain analytics platform Nansen establishes an operational presence in Gelephu Mindfulness City (GMC) in Bhutan. The move represents another step in the tiny Himalayan kingdom’s push to build a sovereign digital asset ecosystem.
More broadly, the agreement highlights Bhutan’s accelerating ambition to build a sovereign-backed digital asset jurisdiction from scratch. For Nansen, the next wave of growth is expected to come from exactly this type of ecosystem.
Not a transfer
Under the partnership announced on Tuesday, Nansen plans to create a local entity at GMC and hire a team based in Bhutan. In addition, the company will develop field analytics capabilities to support the growing infrastructure of digital assets in the Special Administrative Region.
A transition is not a transition. He said Alex Svanevic CEO and co-founder of Nansen, told BeInCrypto that the company will keep its Singapore headquarters intact.
“We are not leaving Singapore – this is an additional entity,” Svanevic said. “We chose GMC because of the vision behind it. Most crypto-friendly jurisdictions are improving on what exists today. Bhutan is building something radically different – an economic zone driven by values with digital assets integrated into the foundation, not just an afterthought.”
Why Bhutan?
GMC was established as a purpose-built special administrative region in southern Bhutan. It is designed around sustainable economic development. The region has attracted attention for its integration of digital assets at the sovereign level. This includes holding digital currencies in its strategic reserves and developing a regulatory framework dedicated to this sector.
For Svanjevic, commitment at the sovereign level is the key differentiator.
“GMC has cryptocurrencies in its strategic reserves, a progressive regulatory framework designed specifically for digital assets, and a real sovereign conviction behind it. This is rare. We want to be a leader in this ecosystem,” he said.
Expand beyond analytics
The partnership reflects a broader shift in Nansen’s own strategy. In January, the company launched AI powered trade execution system in Base and Solheand divorced Its own AI agent on the webmoving beyond its roots as a portfolio evaluation and analytics tool towards an integrated on-chain trading platform.
“Nansen has become an AI-driven platform for investment in the chain – analytics, trade execution and AI agents working together,” Svanevic said. “In the GMC ecosystem, this positions us well as the infrastructure around staking, tokenization and institutional liquidity matures.”
Nansen currently tracks over 500 million addressable wallet addresses across major blockchain networks.
Building blocks, not hype
However, the Nansen partnership is the latest in a series of digital asset partnerships that GMC has, which include custody infrastructure, tokenization, institutional liquidity and legal frameworks.
Jegdrel Singai, a GMC board member, framed this approach as deliberately incremental.
“At GMC, we focus on building the supporting layers – data, governance and human capabilities – that enable innovation to move forward responsibly,” said Singai.
Svanevic described Bhutan’s model as forward-looking, rather than reactive.
“Bhutan is building something truly new – a mandate designed for the financial future, not modified by the past,” he said.
Meanwhile, specific details on team size, office setup and staff schedules are still being finalized. Operational construction will evolve in the coming months, Svanevic said.
