Maldives Partners with MBS Global for Crypto Hub
The Maldives has teamed up with MBS Global to create a new financial hub. This deal, worth billions, aims to boost the country’s economy. The agreement was signed on May 4. It will establish a blockchain and digital assets center in Malé, the capital city.
The Maldives International Financial Center will cover 830,000 square meters. It could employ 16,000 people and house 6,000 residents. The project will roll out in stages over five years. By year five, it is expected to earn over $1 billion annually. Officials hope it will triple the nation’s GDP.
MBS Global, led by Sheikh Nayef bin Eid Al Thani, will fund the project. They plan to use both equity and debt. They have already raised over $4-5 billion from wealthy families and investors. The center will focus on crypto and digital assets. It aims to attract tech firms and investors.
For the Maldives, this is a lifeline. The country faces financial challenges,with $1.6 billion in debt due by 2026. India recently gave a $760 million bailout to help the island nation avoid default.
Finance Minister Moosa Zameer believes the financial center could be a possible way out of its current fiscal crunch. Still, turning Malé into a global fintech hub won’t be easy. One senior Indian businessperson told the Financial Times that the Maldives is highly likely to face stiff competition from well-established heavyweights such as Dubai, Hong Kong, and Singapore.
As previously reported by crypto.news, Dubai has already made major strides in establishing itself as a crypto-pleasant destination, with supportive regulations and government-backed blockchain initiatives. Similarly,Singapore has continued to draw global investment with its open approach to digital assets and a thriving tech ecosystem. Meanwhile, Hong kong, too, has attracted hundreds of Web3 and fintech firms by positioning itself as a gateway between China and the West. Hong Kong,Dubai,and Singapore all ranked among the top five in Multipolitan’s 2025 Crypto Cities Index,which evaluated global hubs based on adoption,regulation,and infrastructure.
