Online reports, according to the British "Financial Times" report, the Maldives government signed an agreement with the Dubai-based family office MBS Global Investments on May 4, planning to invest US$9 billion to jointly develop a large cryptocurrency and blockchain center in the capital Male. The move aims to attract foreign direct investment into blockchain and Web3 technology, helping Maldives get rid of its economic dependence on tourism and fisheries, diversify its income, and alleviate national debt. The project plans to build a facility called the "Maldives International Financial Center", covering an area of approximately 830,000 square meters. It is expected to take five years to complete and provide approximately 16,000 jobs. It is worth noting that the project's investment of US$9 billion exceeds Maldives's annual gross domestic product (GDP) of approximately US$7 billion. At the same time, Maldives's ambition to become a global financial technology center will also face fierce competition from mature international financial centers such as Dubai, Singapore and Hong Kong.