The Maldives signed a $9 billion agreement with MBS Global Investments to develop a major crypto and blockchain hub. The Dubai-based family office will lead the project in Malé, the capital city.
The deal was finalized on May 4, 2025, according to a Financial Times report. It marks the Maldives’ largest known development project to date. Officials aim to use the Maldives crypto hub to attract foreign capital and reduce dependence on tourism and fisheries.
The planned development is called the Maldives International Financial Centre. It will cover 830,000 square meters and employ up to 16,000 people. Project completion is expected in five years.
Maldives Crypto Hub to Support Economic Diversification
Government officials stated that the Maldives Web3 project is part of a strategy to shift the country’s economy. The Maldives currently depends on tourism and fishing, which are sensitive to global disruptions. The Maldives crypto hub is designed to attract direct investment in blockchain and crypto sectors.
The $9 billion crypto deal exceeds the country’s gross domestic product (GDP), which stands at $7 billion. Despite the scale, no full financing breakdown has been released.
The government did not publish specific terms on how the Maldives blockchain hub will be regulated. No announcements were made regarding token services, trading platforms, or crypto infrastructure within the project.
MBS Global Investments to Develop Maldives Web3 Project
MBS Global Investments will lead the construction and planning of the Maldives crypto hub. The company is based in Dubai, where multiple blockchain-related projects have been launched under government support.
No quotes were shared by MBS Global in the Financial Times report. No further statements were issued by the Maldivian government about investor protections, crypto licenses, or digital asset oversight.
Officials have not outlined whether the Malé blockchain center will offer exchange services or host blockchain startups.
Other Global Blockchain Hubs Already Active
The Maldives Web3 project enters a sector with active competition. Dubai, Singapore, and Hong Kong already host large blockchain ecosystems.
Dubai’s Land Department and Virtual Assets Regulatory Authority signed an agreement on April 6, 2025. The deal linked Dubai’s land registry to blockchain systems to support real estate tokenization.
In Hong Kong, regulatory programs have attracted over 100 Web3 and fintech companies. Ivan Ivanov, global CEO of WOW Summit, said the city functions as a “regulatory sandbox” between China and the West.
Singapore also houses multiple Web3 companies and crypto exchanges. The Monetary Authority of Singapore manages a balanced approach by allowing blockchain experimentation under clear rules.
Project Timeline and Key Details
The Maldives International Financial Centre will be based in Malé. The government has not disclosed whether the land is state-owned or leased. Construction plans and approval phases have not yet been published.
The $9 billion crypto deal is one of the most expensive investments in the country’s history. Officials have not confirmed whether the Maldives will issue sovereign digital assets or tokens related to the development.
As of now, no public announcements have been made about partnerships with other governments, fintech firms, or crypto developers in the Maldives.
The Maldives crypto hub remains in the early planning phase, with full funding details and implementation strategies yet to be released.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
