The Maldives is making a bold leap into Web3.
In a strategic pivot from its tourism-dependent economy, the island nation has signed on with Dubai-based MBA Global Services to develop a $9 billion crypto and blockchain hub dubbed the Maldives International Financial Center.
It’s not just talk. MBA Global is bringing $8.8 billion to the table, backed by its network of high-net-worth investors and financial firms.
To put it in perspective: this single project exceeds the Maldives’ entire GDP, which currently sits under $7 billion. The hub, set to rise in Male, will span 830,000 square feet and aims to create close to 17,000 jobs—marking one of the most ambitious Web3 investments in the region to date.