Maldives Plans $9 Billion Blockchain Hub To Lure Crypto Investors
By: bitcoin ethereum news|2025/05/05 15:15:01
0
Share
The Maldives wants to diversify its local economy from tourism in a full embrace of blockchain and cryptocurrencies. The government has inked a deal with Dubai-based MBA Global Services to build a $9 billion blockchain hub to attract crypto investors. Maldives Eyes Mega Blockchain Hub To Diversify Local Economy According to a Financial Times report, the Maldives has signed an agreement with MBA Global Services to establish a crypto and blockchain hub. Per the report, the hub will be the Maldives’ biggest statement of intent in the quest to diversify its local economy beyond tourism and fisheries. This time, the Maldives is eyeing an avalanche of foreign direct investment into its fledgling cryptocurrency and Web 3 industry. Dubbed the Maldives International Financial Center, the ambitious blockchain hub will cost the Southeast Asian country a staggering $9 billion. The Dubai-based MBA Global Services is providing as much as $8.8 billion for the hub, tapping its network of high-net-worth individuals and wealth management firms to fund the project. For context, the Maldives has a GDP of less than $7 billion, making the proposed Web 3 hub a mega project for the country. According to the plans, the hub will sit on an 830,000-square-foot facility in the capital city of Male and will employ nearly 17,000 individuals. The hub will mirror Dubai’s transformation from tourism to digital assets over the last four years. Dubai appears to have completed its Web 3 transformation, with Eric Trump confirming cryptocurrency payments in Trump Towers Dubai. A String Of Benefits For Cryptocurrency Investors The ambitious project is expected to be completed within five years, with authorities eyeing a raft of incentives for investors. For starters, the hub will operate as a “financial freezone for blockchain and digital assets” to lure investors. While details are sparse, initial chatter around the Maldives’ blockchain hub suggests 100% ownership for foreign firms and a special regulatory tax. A seamless registration and licensing process with the provision of banking services is tipped to sweeten the deal for cryptocurrency firms keen on setting up shop in the country. As cryptocurrency investors face tax uncertainty in the US and other regions, crypto investors will flock to the Maldives. Apart from diversifying its local economy, the Maldives has its eyes on using the revenue stream from the hub to offset its national debt. The Maldives is aiming to triple its GDP within four years via blockchain investment, but will face stiff competition from other regional heavyweights. Hong Kong and Singapore hold a clear lead in Web 3 in the region, with Thailand keen on closing the gap following KuCoin’s expansion into the country. ✓ Share: Aliyu Pokima Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/maldives-plans-9-billion-blockchain-hub-to-lure-crypto-investors/
You may also like

Why Stop at 126K? Michael Saylor Breaks Down BTC Stagnation and Retail Absence Truth
Bitcoin is digital capital, and I will spend a thousand hours explaining it to you. Eventually, you will understand, but you will still have to endure a 45% crash.

Virtuals Protocol's inaugural Titan project: ROBO aims to give a wallet to a robot
This is a key step in Virtuals expanding the Agent Economy into the Embodied AI and Robotics field.

Stablecoin Latest Report: Actual Distribution and Circulation Much More Notable Than Supply
The Truth about Stablecoin Circulation Speed, Concentration, and Structure After Doubling the Supply

Paradigm's New Arithmetic: When Crypto Can't Hold 12.7 Billion, AI Becomes the Answer
It took Paradigm three years to emerge from the ruins of FTX.

Wintermute Founder: In the Lost Cryptocurrency Market, What Can We Still Do?
This is more like a manifesto, discussing "the very reason we are here."

$1.3 Billion Debt: BitDeer Faces Tough Battle
Wu Jihan is waiting for AI's money to catch up with the speed of debt.

Anthropic's IPO Gamble: At the Most Unlikely Moment, It Chose to Say No
In the AI Era, what is the most valuable thing?

Paradigm's Math Problem: $12.7 Billion, Too Big for a Single Crypto Fund
Emerging from the ruins of FTX, Paradigm took three years

Ethereum Unveils Scaling Roadmap, What's Different This Time?
Short-term improvements to execution efficiency through the Gas mechanism optimization and block validation parallelization, and long-term scalability through ZK-EVM and blobs data architecture.

Anthropic Ban Wave, OpenAI $100 Billion Funding Controversy: What Is the Overseas Crypto Community Talking About Today?
What Have Foreigners Been Most Interested in Over the Last 24 Hours?

Morning News | OpenAI receives $110 billion investment; Solana launches Solana Payments; M0, MoonPay, and PayPal jointly launch PYUSDx
Overview of Important Market Events on February 27

Bloomberg: A Romanian Presidential Election Intervened by Crypto Traders
The puzzle of the Romanian elections under digital manipulation.

Founders Fund, Pantera, and Franklin Templeton join Sentient's "Arena" to stress test enterprise-level AI agents
Sentient is gathering builders and supporters from around the world (including Founders Fund, Pantera, Franklin Templeton, alphaXiv, Fireworks, OpenRouter, etc.) to jointly address the reasoning capability gap in enterprise AI.

Why Retail Is Shifting From Crypto to Equities: Will They Return?
Retail traders are exiting the crypto market and gravitating towards equities. Bitcoin saw a notable reduction in spot…

Canton Crypto Network vs. XRP: Understanding DTCC’s Strategic Approach to Infrastructure and Liquidity
Key Takeaways Canton Network and XRP serve distinct roles in blockchain technology: Canton for asset tokenization and atomic…

Jack Dorsey’s Block to Cut 4,000 Jobs in AI-Driven Restructuring
Key Takeaways Block’s significant job cuts aim to streamline operations for AI-driven growth. The company’s stock surged over…

Axiom Crypto Uncovered: ZachXBT Reveals $400k Insider Trading
Key Takeaways Allegations of insider trading at Axiom Crypto involve approximately $400,000 and a complex scheme where employees…

Ethereum 2029 Roadmap: ETH to Become the High-Speed Internet of Value
Key Takeaways Ethereum’s new roadmap, the “Strawmap,” aims for a settlement layer achieving 10,000 transactions per second (TPS)…
Why Stop at 126K? Michael Saylor Breaks Down BTC Stagnation and Retail Absence Truth
Bitcoin is digital capital, and I will spend a thousand hours explaining it to you. Eventually, you will understand, but you will still have to endure a 45% crash.
Virtuals Protocol's inaugural Titan project: ROBO aims to give a wallet to a robot
This is a key step in Virtuals expanding the Agent Economy into the Embodied AI and Robotics field.
Stablecoin Latest Report: Actual Distribution and Circulation Much More Notable Than Supply
The Truth about Stablecoin Circulation Speed, Concentration, and Structure After Doubling the Supply
Paradigm's New Arithmetic: When Crypto Can't Hold 12.7 Billion, AI Becomes the Answer
It took Paradigm three years to emerge from the ruins of FTX.
Wintermute Founder: In the Lost Cryptocurrency Market, What Can We Still Do?
This is more like a manifesto, discussing "the very reason we are here."
$1.3 Billion Debt: BitDeer Faces Tough Battle
Wu Jihan is waiting for AI's money to catch up with the speed of debt.