Maldives Unveils $9B Crypto Investment Haven
The post Maldives Unveils $9B Crypto Investment Haven appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Malé, the Maldives capital, may soon be transformed. The government of the island nation has agreed on a multi-billion-dollar agreement with a family office – a private wealth management firm – in Dubai to construct a massive blockchain and cryptocurrency hub. The aim? To attract fresh investment and reduce the nation’s heavy dependence on tourism and fishing. $9 Billion Project Bigger Than Nation’s Economy The deal was struck on May 4 with MBS Global Investments, according to a report by Bloomberg. The project will cost $9 billion—higher than the Maldives’ total annual GDP, which stands at approximately $7 billion. If the scheme goes ahead as planned, it will take approximately five years to complete. The planned location, the Maldives International Financial Centre, would occupy approximately 830,000 square meters of space. Upon completion, the center might employ a maximum of 16,000 individuals, the Financial Times disclosed. That’s a drastic change for a nation with an all-time population of less than half a million.
The post Maldives Unveils $9B Crypto Investment Haven appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Malé, the Maldives capital, may soon be transformed. The government of the island nation has agreed on a multi-billion-dollar agreement with a family office – a private wealth management firm – in Dubai to construct a massive blockchain and cryptocurrency hub. The aim? To attract fresh investment and reduce the nation’s heavy dependence on tourism and fishing. $9 Billion Project Bigger Than Nation’s Economy The deal was struck on May 4 with MBS Global Investments, according to a report by Bloomberg. The project will cost $9 billion—higher than the Maldives’ total annual GDP, which stands at approximately $7 billion. If the scheme goes ahead as planned, it will take approximately five years to complete. The planned location, the Maldives International Financial Centre, would occupy approximately 830,000 square meters of space. Upon completion, the center might employ a maximum of 16,000 individuals, the Financial Times disclosed. That’s a drastic change for a nation with an all-time population of less than half a million.
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