Bhutan allocates $970K in Ethereum for staking

Key Takeaways

• The Royal Government of Bhutan today moved 320 Ethereum, valued at around $970,000, to Figment.
• The action continues Bhutan's deeper integration of blockchain technologies into national systems.

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The Royal Government of Bhutan today moved 320 Ethereum worth around $970,000 to Figment, an institutional staking provider specializing in secure blockchain participation.

The move represents Bhutan’s continued expansion into blockchain technology for national systems. The Himalayan kingdom recently migrated its national digital identity project to Ethereum, enhancing self-sovereign identity for citizens through the decentralized blockchain platform.

FIGMENT facilitates Ethereum staking as part of Bhutan’s broader adoption of blockchain technology. The government’s staking initiative signals confidence in Ethereum’s long-term potential while supporting the network’s proof-of-stake consensus mechanism.