Malé Web3 City: Maldives Set To Create First Crypto City With $9B Investment

08 May, 2025

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Expertise : Crypto News & Market Analysis, Content Strategy & SEO Writing

Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

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Malé Web3 City: Maldives Set To Create First Crypto City With $9B Investment

Malé Web3 City to Create 16k Jobs and Hit $1B Revenue Annually

The Maldives, a small country in South Asia, is set to build the first ever crypto city with a $9B investment, making its name in the crypto and blockchain industry. According to the PR Newswire, the Maldives government has partnered with MBS Global Investments to set up Malé Web3 City, a $9B crypto project called MIFC.

Maldives International Financial Centre (MIFC) will transform the status of the Maldives from a tourist destination to a Web3 and crypto hub. The development phase will end in 2030 and will provide 16k jobs. More importantly, the revenue could hit $1B annually after the fifth year.

Malé Web3 City Could Settle Maldives’ Debt

The $9B budget allocated to this Maldives crypto city is much more than its annual GDP. As they achieve high revenue, this could boost their economy. More importantly, it could shift its image from a tourism-based country to a Web3 and blockchain hub.

“This is a momentous project. It offers a great opportunity to diversify our economy beyond tourism in line with our ambitions and will attract the best businesses and visionary entrepreneurs in the world,” said the Finance Minister

More importantly, experts foresee witnessing 3x GDP within four years, saving the country from its debt crisis. Recently, its neighboring nation, India, has bailed it out of $760M in debt. However, there’s still $1B in external debt due by 2026, which the country wishes to tackle with the Web3 city.

While the India-Pakistan war situation escalates, it is significant positive news for South Asia.

Maldives Crypto City Structure & Future Plans

The Maldives crypto city will be built in 830,000 square meters and will be inspired by the Maldives’ marine ecosystem. Architect Gianni Ranaulo is allocated the responsibilities of designing this Web3 hub with a focus on environmental friendliness.

Per the reports, it will have a state-of-the-art financial hub and digital assets storage options. Additionally, International schools, offices, retail, and cultural venues are also in the plans. Notably, they also have plans to launch Maldtoken, a digital token, and other relevant decisions to transform it into Malé Web3 City and a favorable spot for crypto business.

Overall, this would benefit the crypto market, fueling global adoption and development of the industry.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Frequently Asked Questions (FAQs)

1. Where is the world’s first crypto city project being built?

The first web3 crypto city is getting developed in South Asia on the Indian Ocean by the Maldives government in partnership with Dubai-based MBS Global Investments.

2. What are the key features of this Malé Web3 City?

The Malé Web3 City will feature a financial hub, storage for digital assets, school and office space, cultural venues, and much more. It will be 100% eco-friendly, inspired by the Maldives' marine ecosystem.

3. Will the Maldives launch its own digital currency?

Yes, there’s a plan for launching Maldtoken past the establishment of Crypto City.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.