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Honeymoon destination, top vacation paradise Maldives (, may soon don a new signboard — Crypto Assets will replace sunshine and beaches, becoming the new ace to attract global attention.
The family office MBS Global Investments, headquartered in Dubai, announced plans to invest $8.8 billion to create a "blockchain and digital assets" financial center in the Maldives.
This massive investment project will not only help this Indian Ocean island nation reduce its heavy reliance on tourism and fishing, but is also seen as a lifeline to alleviate the country's debt pressure.
MBS Global Investments is managed by the family office of Sheikh Nayef bin Eid Al Thani, a member of the Qatari royal family, with assets totaling $14 billion. This move into the Maldives is seen as the small island nation's first foray into the blockchain and Crypto Assets industry.