The nation plans to build an 830000 square meter crypto hub facility employing 16000 people in Malè

The Financial Times reports that the Maldives government signed a $9 billion agreement with Dubai-based MBS Global Investments

The Maldives government has signed an agreement with Dubai-based MBS Global Investments to build an 830,000 square meter crypto hub facility employing 16,000 people in Malè.

As the nation pushes ahead with its crypto megaplan, Flare is the best-performing cryptocurrency in the top 100 today.

Its rally doesn’t appear directly linked to the Maldives’ new move, but it shows that the market is paying close attention to Flare.

And considering its use case, it’s easy to see why.

Flare is a scalable layer 1 blockchain used for data-intensive tasks like DeFi. But it’s not just a normal DeFi-focused blockchain – it aims to bring smart contract support for cryptocurrencies that don’t normally have it.

It allows cryptocurrencies like Bitcoin and XRP to be used in its DeFi apps.

Flare uses bridging to achieve this, but it’s unique because each bridged asset has 300% over-collateralization, ensuring the economic security of users’ funds.

Flare unlocks trillions of dollars in liquidity for DeFi and promises robust security – this gives it serious potential for growth.

Solaxy

When it comes to crypto adoption, Solaxy is one of the few under-the-radar projects that could soon change everything.

It’s building the world’s first Solana layer 2 blockchain, tackling the network’s congestion issue, which leads to longer wait times and increased rates of transaction failures amidst periods of peak activity.

Solaxy will use off-chain computation and rollup technology to make Solana cheaper, faster, and more reliable.