From Cointelegraph

May 4, 2025 3:40 PM:

The government of Maldives partners with MBS Global Investments to develop a $9 billion crypto and blockchain hub in the capital, Malé, aiming to reduce reliance on tourism and fisheries. The project includes an 830,000-square-meter facility employing up to 16,000 individuals and is estimated to take five years to complete.

The planned crypto hub in Maldives faces competition from established jurisdictions like Dubai, Singapore, and Hong Kong, which are already major players in the global crypto and fintech industry. These hubs have positive regulatory environments, encourage innovation, and attract significant investment, posing challenges for Maldives’ ambitions.

Dubai, UAE, is rapidly growing as a crypto and Web3 hub, with a government supportive of blockchain technology and real-world applications. Hong Kong has positioned itself as a crypto hub through proactive regulations, attracting numerous Web3 and fintech firms. Singapore is also a major international crypto center, with a regulatory approach encouraging technological experimentation and global investment.

Read more at Cointelegraph: Maldives to build $9 billion crypto hub to attract investment: Report