A Dubai-based family office representing Sheikh Nayef bin Eid Al Thani of Qatar is spearheading an ambitious $8.8 billion blockchain and digital assets initiative in the Maldives. This project, led by MBS Global Investments, a firm managing assets for ultra-high-net-worth individuals and family offices, is one of the largest investments in the nation’s history, surpassing the Maldives’ entire GDP, which stood at approximately $7 billion in 2023.
The goal of this multi-billion-dollar venture is to diversify the Maldives’ economy, which has been heavily reliant on tourism and fishing. Amid rising external debt, with $600–$700 million in debt maturities due this year and another $1 billion expected by 2026, the Maldives is looking for new avenues to stimulate growth. The blockchain initiative, which includes the development of a major International Financial Centre covering over 830,000 square meters, aims to create 16,000 jobs and attract global investors. The project could also position the Maldives as a regional leader in fintech and blockchain services.
Although the Maldives does not currently have a strong presence in the crypto sector, this investment signals the nation’s growing interest in aligning with emerging digital economies, especially as it navigates its relationships with both India and China. MBS Global Investments has already secured between $4 billion and $5 billion in commitments from a network of family offices and private investors. The firm’s portfolio includes real estate, fintech, construction, and private equity interests, with previous notable investments in digital asset management.
Nadeem Hussain, CEO of MBS Investments, emphasized the shift in the investment landscape, stating, “Family offices are no longer on the sidelines when it comes to blockchain.” The project in the Maldives is part of a broader trend of blockchain adoption across the Gulf and South Asia. Beyond the Maldives, MBS is exploring economic collaborations in Southeast Asia, including ongoing discussions with Brunei’s Ministry of Finance and Economy and a special economic zone development off the coast of Malaysian Borneo.
This transformative project is expected to not only ease the financial pressures faced by the Maldives but also place the island nation at the intersection of innovation and geopolitical influence in the digital age.
Maldives 2.0 (@digitalgovmv) is our vision for the future—a Digital-First Maldives built for every citizen, every island, and every generation to come. These 8 Pillars shape how we build, connect, govern, protect rights, promote transparency, and restore trust in public… pic.twitter.com/m7SDPqn4vl
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Maldives International Financial Centre is more than infrastructure. It is a national commitment. A commitment to diversify our economy beyond our traditional boundaries. A commitment to our people with opportunity, resilience and pride. And a commitment to the world – that the… pic.twitter.com/T7uYfe86no
— Dr Mohamed Muizzu (@MMuizzu) May 4, 2025