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The Maldives has signed an $8.8 billion deal to establish a blockchain-first financial hub, aiming to transform its economy and attract digital asset investments. The project, financed by Dubai-based MBS Global, will create thousands of jobs and position the country as a crypto-friendly jurisdiction. This move comes as the nation grapples with high debt levels and seeks new avenues for growth.
- The Maldives’ $8.8B blockchain hub will be a tax-free zone, targeting crypto exchanges and Web3 funds to diversify its tourism-dependent economy.
- Dubai’s MBS Global is financing the project, with $4–5B already pledged by high-net-worth investors and family offices.
- The nation’s high debt (146% of GDP in 2020) and recent Indian bailout underscore the urgency of this economic pivot.
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