$8.8 Billion Distributed ledger Center In Malé: Maldives Collaborates With Dubai Company MBS
A groundbreaking $8.8 billion international center for blockchain and crypto asset innovation is in development right in the center of Malé, the capital of the Maldives.
The Maldivian government has joined forces with MBS Global Investments, a Dubai-based firm, for this ambitious initiative that aims to reshape the nation’s economic framework.
“Projected to be finished by 2030, this center will be readily reachable from all corners of the globe, with the goal of significantly boosting the nation’s GDP in just four years and expecting revenues to surpass $1bn by the fifth year,” stated the partners in a press release dated 4 May 2025.
According to Maldivian President Mohamed Muizzu, “Through the Maldives International Finance Centre (MIFC), we are crafting the Maldives of the future, a symbol of innovation and national pride that will flourish alongside nature.”
“This financial center will represent economic fortitude and create a new global standard that will greatly benefit the citizens of the Maldives for generations ahead,” he continued.
The timing of this announcement is vital. Just a few months prior, India extended a $760 million bailout to the Maldives to help avoid a potential default. Additionally, Moody’s Ratings has raised alarms regarding the country’s liquidity risks.
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Maldives Aims to Tackle Debt Crisis with Crypto Initiative
President @MMuizzu has made history. Transitioning from beaches to finance — the Maldives is constructing an $8.8B premier financial hub with Qatar’s MBS Global. MIFC will triple GDP, operate on 100% renewable energy, and position Malé as the Indian Ocean’s Singapore.#Muizzu2028… pic.twitter.com/ajEcrHzzgb
— Shumba Gong (@ShumbaGong) May 4, 2025
There is a broad consensus that the Maldivian government is aiming to resolve a debt crisis through this cryptocurrency initiative. “The MIFC, to be developed in Malé over the coming five years, will feature no corporate taxes or residency conditions, and will provide tax-exempt inheritance,” noted MBS.
Regarding the project, the Minister of Finance for the Maldives remarked, “This is an extraordinary undertaking.” He added, “It represents a significant chance to diversify our economy away from tourism in alignment with our goals and will draw the most reputable companies and visionary entrepreneurs globally.”
On the other hand, Nadeem Hussain, CEO of MBS, stated, “The financial center will create a fresh global standard, propelling financial innovation forward by at least two decades. It marks the next step in the evolution of financial centers worldwide.”
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Essential Insights
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MBS Global Investments, a family office located in Dubai managing approximately $14 billion in assets, is at the forefront of funding and developing the MIFC.
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With $9 billion involved—surpassing the entire GDP of the country—the project could revolutionize the island nation into a digital finance leader.
The article $8.8 Billion Blockchain Hub In Malé: Maldives Partners With Dubai Firm MBS first appeared on 99Bitcoins.
