Maldives Signs $8.8 Billion Deal to Build Giant Crypto Hub in Malé!

Updated

May 5, 2025

Gambar Maldives Signs $8.8 Billion Deal to Build Giant Crypto Hub in Malé!

Jakarta, Pintu News – The Maldives government recently announced an ambitious project to develop an $8.8 billion blockchain hub.

The project is expected to reduce the country’s dependence on the tourism sector and open up new economic opportunities.

Funding and Strategic Cooperation

The mega project will be financed by MBS Global Investments, a family office managing $14 billion worth of assets based in the United Arab Emirates. A cooperation agreement has been signed between the Dubai family office and the Maldivian government.

This cooperation marks a major step for the Maldives in overcoming dependence on tourism, which has been the backbone of its economy. The partnership is not only about investment, but also knowledge and technology transfer.

With financial and technical support from MBS Global Investments, the Maldives hopes to accelerate the development of digital infrastructure and local expertise in blockchain technology.

Economic Growth Potential

According to a report from the Financial Times, the project is expected to increase the Maldives’ GDP by 200% within four years. This is a significant figure, considering that tourism currently accounts for around 30% of the country’s GDP.

Through this economic diversification, the Maldives could potentially create thousands of new jobs and reduce the unemployment rate. In addition, this blockchain hub is expected to address the public debt problem that currently exceeds the country’s GDP, which stands at $7 billion.

With this project, the Maldives could potentially avoid bankruptcy and improve the fiscal deficit caused by overspending.

Impact on other industries

The fisheries sector, which accounts for about 10% of the Maldives’ GDP, will also be affected. With blockchain technology, transparency and efficiency in the fish supply chain can be improved, opening up new markets and increasing revenue from exports.

The country is famous for yellowfin tuna and skipjack, with the European Union, Japan and Thailand as the main markets.

In addition, the development of this blockchain hub is expected to attract investors and global technology companies to invest in the Maldives. This will help the country in building a strong and sustainable digital ecosystem, which is not only limited to the financial sector but also education, health, and government.

Overall, this blockchain hub project in the Maldives is a bold and strategic step forward in the face of existing economic challenges.

With international support and a focus on future technologies, the Maldives is on track for an inclusive and sustainable economic transformation.

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