Maldives Plans $1B Blockchain Financial Hub by 2029

• Maldives has launched the $8.8B Maldives International Financial Centre (MIFC), focused on blockchain and digital assets.
• MIFC will generate $ 1 B+ and triple the Maldives’ GDP in 4 years
• The project aims to reduce reliance on the tourism sector

The Maldives is making a bold leap into the world of blockchain and fintech with the announcement of its flagship initiative, the Maldives International Financial Centre (MIFC). This revolutionary initiative will be a world-class blockchain centre spanning a whopping 830,000 square meters, and that will redefine the nation’s economic landscape.

According to official reports, the hub would host 6,500 people and provide 16,000 direct jobs. Slated for completion within the next few years, the centre is expected to triple the Maldives’ GDP in just four years. By its fifth year, the MIFC is projected to generate over $1 billion in annual economic output, placing the island nation firmly on the global financial map.

A New Era of Economic Growth

This blockchain hub represents more than just a real estate project. It is part of a broader strategy to transform the Maldives into a regional powerhouse for blockchain innovation, digital finance, and international investment.

The MIFC will serve as a base for fintech companies, crypto exchanges, research labs, and innovation centers, attracting talent and investment from across the globe. Officials expect this shift to decrease the country’s dependence on tourism, particularly in the aftermath of economic disruptions brought about by international crises.

Sustainability is also a central aspect of the plan. The government has indicated that the project will have green energy sources and smart city elements incorporated into it, in sync with the Maldives’ conservation goals for the environment.

With bold ambition and strategic planning, the Maldives is setting the stage to become a tech-forward economy in the Indian Ocean.

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