Maldives Makes a Risky Bet on a $9 Billion Crypto City to Diversify Its Economy and Challenge Asia’s Titans

May 8, 2025 10:00 pm Cryptocurrency 63

Key Takeaways:

Maldives is developing a $9B blockchain finance center to reduce its dependence on tourism.

The project will triple GDP and generate 16,000 jobs in five years.

It aims to compete with Dubai, Singapore and Hong Kong.

The government of the Maldives is developing a $9 billion crypto-financial hub in collaboration with MBS Global Investments, a Dubai headquartered company. The initiative, formally known as the Maldives International Financial Centre (MIFC), will be developed over five years in the capital city of Malé. At 830,000 square meters, it is projected to create 16,000 jobs, attract foreign direct investment (FDI), and potentially triple the GDP of a country valued at an estimated $7 billion.

Details of Maldives’ $9 Billion Blockchain Hub Development

The MIFC will be more than just a financial centre, it is a multi-purpose digital eco ..

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