A Dubai family office, managed by Qatari royal Sheikh Nayef bin Eid Al Thani, is set to invest $8.8 billion in a blockchain and digital assets project in the Maldives. This initiative aims to diversify the Maldives' economy, which currently relies heavily on tourism and fishing, amidst rising debt obligations. The planned investment exceeds the Maldives' annual GDP of approximately $7 billion. The project will unfold over five years and includes the construction of an International Financial Centre that will generate significant employment opportunities for the nation’s workforce. The Maldives is currently facing substantial debts, with $600 to $700 million due this year and another $1 billion by 2026. MBS Global Investments, the firm behind the initiative, plans to finance this substantial undertaking through a consortium of family offices and wealthy individuals, having already secured $4 to $5 billion. While the Maldives has minimal presence in the crypto industry, this investment marks a significant shift towards embracing digital finance to address economic challenges and attract international investments.

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