Maldives Signs $9 Billion Deal to Build Crypto Hub in Malé
It is a big step for the Maldives to venture into the world of cryptocurrencies. On May 4, the Maldivian authorities entered into a $9 billion agreement with the MBS Global Investments company from Dubai to construct a colossal blockchain and crypto city in the country’s capital, Malé.
The goal? To diversify the country’s economy away from tourism and fishing industries by inviting international investors to invest in blockchain and Web3 industries.
The plan is to construct Maldives International Financial Centre, an 830,000 sqm complex that is expected to generate up to 16,000 employment opportunities as stated in the Financial Times. The project is expected to be completed in five years and will cost more than the entire GDP of the…
