An International Innovation Center for Blockchain and Crypto of $ 8.8 billion is in process in the heart of the capital of Las Malé – Malé.
The Maldivas government has been associated with MBS Global Investments based in Dubai for this ambitious project, whose objective is to transform the country’s economic landscape.
” $ 1 billion For the fifth year, “members said in a press release on May 4, 2025.
President of Maldives Mohamed Muizzu He said: “With him Maldivas International Finance Center (MIFC), we are shaping the Maldives Or tomorrow, a lighthouse of innovation and national pride that will prosper in harmony with nature. “
“The financial center will be a symbol of economic resilience and will establish a new global reference point that will massively benefit the people of the Maldives For coming generations, “he added.
The moment of this announcement is critical. Only a few months ago, India provided the Maldives for a rescue of $ 760 million to avoid breach. In addition, Moody’s qualifications have marked serious liquidity risks for the nation.
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Maldivas seeks to address the debt crisis through the Crypto project
President @Mmuizzu I just made history. From Sun & Sand A Finance & Future-Maldives, it is now building a World Class Financial Center of $ 8.8b with MBS global Qatar. MIFC will triple the GDP, will be 100% renewable and put Malé on the map as the Singapore of the Indian Ocean.#MUIZZU2028… pic.twitter.com/ajonchzzgb
– Shumba Gong (@shumbagong) May 4, 2025
The consensus is that the Government of Maldives is trying to address a debt crisis through this cryptographic project. “The MIFC, which will be built in the capital, Malé in the next five years, will not have corporate taxes or residence requirements and will offer tax -free heritage,” MBS said.
Comment on the project, Minister of Finance for the Maldives He said: “This is a transcendental project.” He added: “It offers a great opportunity to diversify our economy beyond tourism in line with our ambitions and will attract the best visionary companies in the world.”
Meanwhile, Nadeem HussainCEO of MBS said: “The Financial Center will establish a new global reference point, advancing in financial innovation in at least two decades. It is the next evolution of what has happened bone in other financial centers around the world.”
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MBS Global Investments, a Dubai -based family office that manages around $ 14 billion in assets, leads the financing and development of the MIFC.
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With $ 9 billion in the game more than all the GDP of the country, the project could transform the island nation as a power of digital finance.
The post blockchain post of $ 8.8 billion in Malé: Maldives is associated with the firm of Dubai MBS first appeared in 99Bitcoins.