MALÉ, Maldives, May 4, 2025 /PRNewswire/ — The Maldives Government and MBS Global Investments are to create an US$8.8bn Maldives International Financial Centre (MIFC) – a wholly sustainable, Financial Freezone in Malé, Maldives, designed for and created to attract global financial institutions, fintech pioneers, and global digital Nomads.

Allowing the Maldives to diversify beyond tourism, it will attract the future of finance and position Malé as the premier global business and financial hub in the Indian Ocean through an integrated, mixed-use urban district.

MIFC will offer no corporate tax, tax-free inheritance, ownership as per the constitution of the Maldives, and privacy. Combined with no residency requirements, it’s set to attract digital nomads, entrepreneurs, and wealth creators seeking freedom without borders.

Residents will benefit from multi-currency banking and access to offshore private banking. Future-ready regulations will support digital assets, and green finance – making MIFC not just a financial hub, but a destination for those investing in the legacy of future generations.

Due to be completed by 2030, it will be easily accessible from any part of the world and the aim is to notably increase the country’s GDP within four years with projected revenue to be well over US $1bn by the fifth year.

The centrepiece of MIFC is a state-of-the-art conference centre with capacity for 3,500 people. The multi-purpose convention venue will host leading global conferences, cultural events and innovation-driven hackathons establishing Male as leading assembly hub, driving all year round engagement in the Maldives and further supporting the wider, already established hospitality industry

The plan includes three iconic residential and office towers designed for international HQs and regional offices, high-end, sea front branded residences, world-renowned hotel brands, vibrant and one-of-a-kind retail experience, Oceanographic Museum, Mosque, and leading education facilities including an International School.

President Dr Mohamed Muizzu said, “With the MIFC, we are shaping the Maldives of tomorrow, a beacon of innovation and national pride that will thrive in harmony with nature. The financial centre will be a symbol of economic resilience and will set a new global benchmark that will massively benefit the people of the Maldives for generations to come.”

Minister of Finance for the Maldives said, “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.” 

Nadeem Hussain, CEO of MBS Global Investments said, “The financial centre will set a new global benchmark, advancing financial innovation by at least two decades. It is the next evolution of what has been happening in other financial centres around the globe.”

MIFC will have a fully climate-resilient infrastructure, and the architecture and public spaces will be powered exclusively by renewable energy. The upper level of the development will be entirely car-free, with all transport and logistics infrastructure located underground to preserve a pedestrian-friendly, open-air environment.

It will offer a holistic lifestyle rooted in wellness and longevity – designed to be one of the most desirable places to live and work. It will feature world-class sports facilities, cutting-edge longevity and wellness centres, and shaded running and cycling tracks woven through expansive green spaces. Complementing its state-of-the-art office spaces, MIFC will also be home to premium retail, celebrated F&B destinations, and dynamic cultural venues – creating a truly integrated live-work-play environment.

This dynamic mixed-use development has been designed by master planner Architect Gianni Ranaulo, every structure from the overarching master plan to the individual buildings are inspired by the local fauna and marine eco-system. Ranaulo incorporates environmentally conscious practices in all projects. The total size of the development is 780,000 sqm where more than 6,500 people can reside, and an expected daily footfall of 35,000.

www.mifc.gov.mv

Photo – https://mma.prnewswire.com/media/2679143/MALE_MIFC_GianniRanauloDesign01.jpg
Photo – https://mma.prnewswire.com/media/2679144/MALE_MIFC_GianniRanauloDesign_02.jpg

View original content:https://www.prnewswire.co.uk/news-releases/the-government-of-the-maldives-and-mbs-global-investments-pledge-8-8-billion-to-create-the-maldives-international-financial-centre-302445577.html

SAN FRANCISCO, May 4, 2025 /PRNewswire/ — To celebrate seven years of helping consumers resolve debt, Solo is giving one customer the ultimate anniversary gift: a chance to have their debt paid off.

Solo, the platform that connects everyday Americans with collectors to pay off debt, is turning seven—and giving back. To celebrate its 7th anniversary, the fintech startup is hosting Solo’s Debt Payoff Giveaway. One lucky participant will receive $4,700—the average amount of a debt lawsuit according to Solo data aggregated from over 200,000 accounts.

The giveaway shines a spotlight on a difficult financial reality. Based on Solo’s latest financial analysis, the average debtor is sued for more than 11x their bank account balance. This comes out to roughly 80% of their monthly income, so it’s no wonder so many people struggle to respond to debt lawsuits, negotiate settlements, or pay off their debts. Solo’s latest features are designed to flip the script and empower consumers to get out of debt fast.

Everything Solo builds is designed to help people take control of their financial future. “Debt can feel hopeless. We’re here to prove there’s a solution,” said George Simons, Solo’s CEO and founder. “This giveaway is our way of celebrating progress—and helping one more person move forward.”

Solo is now an AI-first experience. Consumers talk for free with its powerful AI, which scores in the top 10% on the bar exam, top 20% on the CPA exam, and is built on OpenAI’s GPT-4o. Users can discover tips to build credit, budget better, and pay down debts. With SoloSettle, consumers can get debt resolution deals based on their actual financial circumstance and collaborate with collectors to achieve instant settlements. 

“Thanks to Solo, getting sued for debt is no longer a dead end,” said Simons. “Instead, for hundreds of thousands of Americans, it’s the pivot point towards a brighter future and greater financial prosperity.”

About Solo
Solo simplifies debt resolution for both consumers and collectors. Since its launch in 2018, Solo has helped more than 290,000 consumers manage $1.92 billion in debt, offering tools that simplify and accelerate resolution. Roughly 10 million US consumers are sued for debt yearly, and many use Solo to respond to lawsuits, engage with collectors for the first time, and negotiate debt digitally, often reaching a resolution in just days.

View original content to download multimedia:https://www.prnewswire.com/news-releases/solo-celebrates-its-anniversary-with-debt-payoff-giveaway-and-ai-advancements-302445524.html

SOURCE Solo

DUBAI, UAE, May 4, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to have been a part of this year’s Web Summit in Rio. From April 27 to 30, the world’s largest technology event took place in Brazil’s startup city, Rio de Janeiro, where Bybit presented its future-ready crypto offering and innovative payments solutions. 

Crypto integration into traditional payments is rapidly becoming part of everyday life for millions of users around the world, especially in emerging markets, and Bybit is at the forefront of the revolution with unmatched crypto-native solutions. Bybit—The Crypto Ark—caters to all of the crypto community’s needs — from trading, custody, on and off-ramping, payments, and more — and is fast becoming the ultimate crypto lifestyle brand. 

Through local partnerships and product innovation, Bybit’s LATAM chapter aspires to become the lifestyle partner of the crypto community. In 2025, Bybit officially launched Bybit Pay in Brazil powered by Transfero, offering a blockchain-based payment gateway and seamless crypto-to-fiat experience. This new product solution simplifies crypto payments and settlement for users in LATAM’s largest economy. 

Bybit Pay Key Features

QR Code support – scan to pay with fiat or crypto via PIX in BrazilUnified crypto and fiat wallet management all in one placeSupports multiple currencies including BRL, USDT, USDC, BTC, and ETH Secure transactions protected by blockchain encryptionUnlocking merchants access to Bybit’s 60+ million global users

At Web Summit Rio, the Bybit booth welcomed hundreds of attendees who experienced Bybit Pay in person. Visitors and the Bybit team exchanged insights on the future of crypto and how institutions, merchants, and retail users can pivot into the digital economy with on-chain solutions. 

Web Summit Rio also featured the Transfero x Bybit Happy Hour, presented by Bybit Pay at the Transfero booth. Visitors got their hands on Bybit’s innovative payments solutions built for crypto over a free beer and additional perks — experiencing a Bybit Pay transaction in seconds and taking home free Bybit-branded merchandise.

The all-in-one crypto powerhouse is also dedicated to enriching customer experience beyond transactions. Bybit recently announced its strategic partnership with Tomorrowland Brasil, making crypto a key highlight at this iconic music festival hosting hundreds of thousands of music fans every year. The upcoming rendition is set for October 10 to 12 in Itu, São Paulo. As the exclusive Payment Partner for Tomorrowland, Bybit’s sponsorship is a world-first — bridging music and the crypto savvy generation. 

“For the younger generation in Latin America, crypto is becoming a way of life. We want to help create a world where paying, sending, and investing in crypto becomes instant and borderless for everyday users. What we are building now will enable millions of customers to benefit from the rapidly emerging digital asset class both on-chain and in real life with increasing ease,” said Israel Buzaym, Country Manager of Brazil.

Local customers can explore Bybit Pay Brazil and the ultra-rewarding Bybit Card with up to 10% cashback in Brazil and Argentina.  

#Bybit / #TheCryptoArk  

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com 

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Contact

Head of PR
Tony Au
Bybit
tony.au@bybit.com

Photo – https://mma.prnewswire.com/media/2679140/Bybit.jpg
Logo – https://mma.prnewswire.com/media/2655391/5300522/Bybit_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/bybit-showcased-innovative-payments-and-crypto-solutions-at-web-summit-rio-2025-302445556.html

SOURCE Bybit