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A Dubai-based family office managing assets for Qatari royal Sheikh Nayef bin Eid Al Thani is financing an $8.8 billion blockchain and digital assets project in the Maldives. The initiative aims to diversify the nation’s tourism-dependent economy amid rising debt obligations.
- The $8.8B investment surpasses the Maldives' annual GDP of $7B, targeting blockchain infrastructure to reduce reliance on tourism.
- MBS Global Investments will develop an 830,000 sqm International Financial Centre, potentially employing 3% of the population.
- The project reflects a trend of conservative family offices expanding into crypto, with MBS previously backing digital asset firm Varys Capital.
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