Maldives Bets Big on Blockchain: $8.8B Hub in Malé Backed by Dubai’s MBS

The Maldives just threw its hat into the crypto ring—hard. Partnering with Dubai-based MBS, the island nation is launching an $8.8 billion blockchain hub in its capital. Because nothing says ’tropical paradise’ like distributed ledger technology.

This isn’t just a sandbox. The project aims to position Malé as a next-gen financial nexus, blending tourism revenue with Web3 infrastructure. Because if there’s one thing global investors love, it’s a volatile asset class paired with rising sea levels.

MBS brings Dubai’s playbook: regulatory savvy and oil-money swagger. Will it work? Either way, the Maldives just became the most interesting liquidity pool in the Indian Ocean.

Maldives Seeks To Address Debt Crisis Through Crypto Project

President @MMuizzu just made history. From sun & SAND to finance & future — Maldives is now building an $8.8B world-class financial hub with Qatar’s MBS Global. MIFC will triple GDP, go 100% renewable, and put Malé on the map as the Singapore of the Indian Ocean.#Muizzu2028… pic.twitter.com/ajEcrHzzgb

— Shumba Gong (@ShumbaGong) May 4, 2025

The consensus is that the government of Maldives is seeking to address a debt crisis through this crypto project. “The MIFC, to be built in the capital Malé over the next five years, will have no corporate taxes or residency requirements and offer tax-free inheritance,” MBS said.

Commenting on the project, Minister of Finance for the Maldives said, “This is a momentous project.” He added, “It offers a great opportunity to diversify our economy beyond tourism in line with our ambitions and will attract the best businesses and visionary entrepreneurs in the world.”

Meanwhile, Nadeem Hussain, MBS CEO said, “The financial centre will set a new global benchmark, advancing financial innovation by at least two decades. It is the next evolution of what has been happening in other financial centres around the globe.”

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Key Takeaways

• MBS Global Investments, a Dubai-based family office managing around $14 billion in assets, is spearheading the funding and development of the MIFC. 

• With $9 billion at stake-more than the country’s entire GDP-the project could transform the island nation into a digital finance powerhouse.