Maldives plans a $9 billion crypto hub to reduce its reliance on tourism and grow its economy fast.
Dubai-based firm backs the Maldives blockchain hub with major funding and investor network support.
The project will offer tax benefits and full ownership to attract global crypto firms to the Maldives.
The Maldives has launched plans to build a $9 billion blockchain and cryptocurrency hub in its capital, Male. The move marks a major shift in the country’s economic direction as it seeks to reduce its reliance on tourism and fisheries.
https://twitter.com/ImCryptOpus/status/1919291551798153268 Massive Investment From Dubai Firm
The government signed a deal with Dubai-based MBA Global Services to fund the project. The firm will provide up to $8.8 billion for the development. It will raise funds through its network of wealthy individuals and asset management companies.
The proposed site will span 830,000 square feet and employ around 17,000 people. Officials hope to use the project to attract global cryptocurrency and blockchain investors.
Maldives Targets Foreign Investment
Authorities aim to position the hub as a financial freezone for blockchain and digital assets. This structure will help lure international firms with investor-friendly policies.
Reports suggest the hub will allow 100% foreign ownership and offer favorable tax conditions. Simplified registration, licensing, and access to banking services will form part of the package.
The Maldives, with a GDP under $7 billion, views this as a national priority. The hub will more than rival the country's current economy in terms of financial scale.
New Revenue Stream to Offset National Debt
Leaders hope to use the hub’s revenue to manage the country’s growing national debt. The move also aims to triple the Maldives’ GDP within four years.
Officials believe blockchain investment will help create a more balanced economic structure. With rising risks in global tourism, the Maldives is taking early steps to future-proof its economy.
Inspired by Dubai’s Digital Shift
The planned blockchain hub mirrors Dubai’s digital asset strategy in recent years. Dubai has embraced cryptocurrency as part of its national growth plan.
Maldives officials are now following a similar path. They see digital assets as a long-term solution to strengthen national income.
Crypto-Friendly Zone Amid Global Tax Pressure
Cryptocurrency investors face growing uncertainty in major economies. Tax changes in the US and Europe have made many firms seek safer regions. The Maldives plans to fill that gap with stable, investor-friendly policies. The project comes as Asian financial centers like Singapore and Hong Kong remain dominant in Web 3. Thailand is also increasing efforts in this space.
The Maldives will face stiff regional competition but expects strong interest. With global demand for digital asset zones rising, it aims to become a serious contender in Asia.
