Maldives to build $8.8B blockchain hub

A Dubai-based family office, MBS Global Investments, plans to invest $8.8 billion over five years to develop a blockchain and digital assets financial hub in the Maldives, according to the Financial Times. The investment surpasses the country’s $7 billion gross domestic product (GDP) and is part of a broader strategy to diversify the economy beyond tourism and fisheries while tackling an impending debt crisis. Backed by wealthy Qatari Sheikh Nayef bin Eid Al Thani, MBS has already secured commitments exceeding $4–5 billion and aims to build an 830,000 sqm Maldives International Financial Centre in Malé. While the Maldives benefits from political stability and strategic proximity to major markets, experts caution that it will face tough competition from well-established financial hubs such as Dubai and Mauritius.