The world of crypto is growing. Even though the bear began on a tumultuous note, with crypto falling like dominoes, it is safe to say that the community is growing. In recent news, the Maldives could become the next big name in the industry after a sizable investment made by a Dubai-based family.
The Maldives has always been a favorite destination for newly married couples. However, this sizable investment made by a Dubai-based family could transform this travel destination into one of the crypto hubs.
According to sources, a Dubai-based family business is looking to invest close to $8.8 billion in the Maldives’ blockchain-based financial sector. This could expand the island’s area of influence from tourism to more robust financial offerings.
Investment To Diversify Maldives’ Offerings
MBS Global Investments and the Maldives Government will head the investment, which would span five years and could supposedly grow the country’s GDP by $7 billion. Therefore, this could be a major chapter in the Maldives’ economic history.
According to the Finance Minister of the Maldives, Moosa Zameer, this move could diversify the country’s economy and allow the government to pay off its debts over the years. In his own words, Moosa Zameer said, “it could help ease some of the financial pressures we (people of Maldives) are facing.”
Apart from the individual interest of the Maldives, this move could also improve the block landscape as a whole. There is a higher chance that more middle- and small-scale investors will enter the ecosystem, making it more diversified and approachable. Therefore, the community is waiting to see how this will pan out.
