Maldives Could Soon Become Cryptocurrency Hub Thanks to $9 Billion Investment from Dubai Family Office
Shaurya Malwa | Edited by Parikshit Mishra May 5, 2025 6:18 AM
Soon after romantic getaways and luxury vacations, the island nation of the Maldives could become a cryptocurrency hub.
A Dubai-based family office plans to invest up to $8.8 billion to create a blockchain-focused financial hub in the Maldives, part of the island nation’s strategy to reduce its reliance on tourism and fisheries and tackle mounting debt.
The investment, led by MBS Global Investments, will be completed over five years and will be structured through a new joint venture with the Government of the Maldives.
The planned capital expenditure will exceed the country’s GDP, which is about $7 billion. Financing will come from a combination of equity and debt, with preliminary commitments already exceeding $4 billion.
Finance Minister Musa Zameer described the initiative as a step towards economic diversification in an interview with the FT. Zameer said the Maldives faces its “most serious challenge” in paying off its external debt, which is due over the next two years, and that the project “could help ease some of the financial difficulties we face.”
According to the proposed master plan, the Maldives International Financial Centre will occupy 830,000 square meters, accommodate 6,500 residents and create 16,000 jobs. It will be positioned as a global financial free zone focused on blockchain and digital assets.
MBS Global Investments manages $14 billion in assets and is the family office of Qatari royal Sheikh Nayef bin Eid Al Thani. The hub is one of the island nation’s first major forays into the cryptocurrency and blockchain ecosystem.
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