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The Maldives government has partnered with Dubai-based MBS Global Investments to build a $9 billion blockchain-focused financial district in Malé. The project aims to diversify the economy and attract crypto and Web3 ventures.
- The $9 billion investment exceeds Maldives' GDP ($7B) and includes a tax-exempt offshore financial zone.
- Projected to generate 16,000 jobs, the MIFC will cater to blockchain, crypto, and Web3 firms without residency requirements.
- Announced amid fiscal strain, including a Moody’s downgrade and $50M Indian bailout to avoid bond default.
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Other Tags: Blockchain, Dubai, Web3