The Royal Government of Bhutan has recently staked 320 Ether (ETH), valued at approximately $970,000, through Figment. This initiative is part of Bhutan’s ongoing expansion of its blockchain activities, which include holding Bitcoin.

Figment acts as a staking service that aids significant investors and institutions in staking digital assets across various blockchains while earning rewards that come from securing proof-of-stake networks.

The recent staking event highlights Bhutan’s increasing focus on Ethereum as they transition their self-sovereign digital ID system from Polygon to Ethereum, enhancing residents’ ability to verify their identities and access government services on the blockchain by early 2026.

Bhutan has demonstrated its commitment to digital assets for years. The country began accumulating Bitcoin in 2019 by utilizing its hydropower resources for mining and currently holds around 6,154 BTC, valued over $562 million as per Arkham data.

Later this year, Bhutan’s government aims to invigorate its tourism sector and court younger travelers by implementing cryptocurrency payment options throughout the nation, supported by Binance, and has onboarded nearly 1,000 merchants to streamline wire transfers for visiting tourists.