Maldives signs $9 billion deal to become international crypto hub
The government of the Maldives signed a $9 billion deal with Dubai-based family office MBS Global Investments to develop a crypto hub in the island nation's capital of Malé and to attract foreign investment opportunities.
Part of the development deal includes plans for an 830,000-square-meter facility used to house and host blockchain, crypto, and Web3 firms.
The project's total funding will exceed the gross domestic product (GDP) of the Maldives, which is around $7 billion annually.