Maldives Signs a $9 Billion Blockchain Deal with Dubai, Bigger Than the Nation’s Entire GDP
- Maldives signs $9B Dubai-backed blockchain pact, bigger than its $7B economy
- Crypto hub in Male aims to create 17K jobs and reduce reliance on tourism
- Dubai’s funding enables Web3 freezone in Maldives with full foreign ownership
The Maldives is making a massive bet on blockchain technology to reshape its economy, signing a multibillion-dollar deal with Dubai-based MBA Global Services. The plan involves building a huge blockchain hub in the capital city, Male, aiming to draw foreign crypto investment to the island nation currently reliant on tourism and fishing.
Strikingly, the project’s estimated $9 billion cost overshadows the Maldives’ entire GDP, which sits below $7 billion. This ambitious venture centers on developing the Maldives International Financial Center, an 830,000-square-foot facility intended to secure the nation’s financial future, attract investment, create jobs, and establish the Maldives as a key Web3 player in South Asia.
A Crypto-Focused Financial Freezone
The new blockchain hub will function as a financial freezone for digital assets and blockchain-related enterprises. Hence, it will offer several investor-friendly incentives t…
The post Maldives Signs a $9 Billion Blockchain Deal with Dubai, Bigger Than the Nation’s Entire GDP appeared first on Coin Edition.
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Maldives Signs a $9 Billion Blockchain Deal with Dubai, Bigger Than the Nation’s Entire GDP
- Maldives signs $9B Dubai-backed blockchain pact, bigger than its $7B economy
- Crypto hub in Male aims to create 17K jobs and reduce reliance on tourism
- Dubai’s funding enables Web3 freezone in Maldives with full foreign ownership
The Maldives is making a massive bet on blockchain technology to reshape its economy, signing a multibillion-dollar deal with Dubai-based MBA Global Services. The plan involves building a huge blockchain hub in the capital city, Male, aiming to draw foreign crypto investment to the island nation currently reliant on tourism and fishing.
Strikingly, the project’s estimated $9 billion cost overshadows the Maldives’ entire GDP, which sits below $7 billion. This ambitious venture centers on developing the Maldives International Financial Center, an 830,000-square-foot facility intended to secure the nation’s financial future, attract investment, create jobs, and establish the Maldives as a key Web3 player in South Asia.
A Crypto-Focused Financial Freezone
The new blockchain hub will function as a financial freezone for digital assets and blockchain-related enterprises. Hence, it will offer several investor-friendly incentives t…
The post Maldives Signs a $9 Billion Blockchain Deal with Dubai, Bigger Than the Nation’s Entire GDP appeared first on Coin Edition.
Read More
Netflix Readying FTX Series, Julia Garner in Talks to Play Caroline Ellison