The post Maldives digital ID launch aims to supercharge economy appeared on BitcoinEthereumNews.com. Homepage > News > Business > Maldives digital ID launch aimsThe post Maldives digital ID launch aims to supercharge economy appeared on BitcoinEthereumNews.com. Homepage > News > Business > Maldives digital ID launch aims

Maldives digital ID launch aims to supercharge economy

For feedback or concerns regarding this content, please contact us at [email protected]

The island nation of the Maldives is set to start issuing digital IDs to its 530,000 citizens in 2026 as it seeks to boost its digital economy.

Announcing the move, the Minister of Homeland Security and Technology, Ali Ihusaan, said that the smart ID card will offer citizens access to dozens of public services. The government has been working on consolidating disparate systems operated by separate agencies into a unified platform to ease access in the digital age.

The minister revealed that the government has already enrolled 272,000 citizens aged 10 and above onto the new digital ID system, accounting for 80% of the eligible population. Now, all that remains is the issuance of the smart ID card.

The Maldives is the smallest country in Asia and the region’s second-least populous. Its $7 billion economy relies predominantly on tourism, attracting about two million visitors last year. Its digital economy is still in its nascent stage, but the government has a stated goal of boosting the sector to account for at least 15% of the gross domestic product (GDP) by the end of the decade. It’s part of a bigger plan to transition the country into a developed nation status by 2040.

The Maldives already has a headstart in digital ID issuance. The country has had an electronic ID system, dubbed eFaas, that has been active for over a decade. eFaas even offers biometric identification, with Latvian ID solutions company Regula Forensics taking over from Sumsub as the biometric tech partner a year ago.

Last year, legislators passed the Digital Identity Bill, establishing a digital ID system for the country and paving the way for the smart ID card.

According to the minister, the new card will offer access to 17 government agencies under the OneGov platform, enhancing access and boosting efficiency.

The Maldives joins neighboring Sri Lanka in making digitalization a core pillar of their economic growth strategies. The South Asian nation recently received a $50 million grant from the World Bank to boost its digital transformation, with a government cloud platform and an online citizen portal among the key targets.

Watch: Why using transparent ledger for digital identity ensures trust

frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen>

Source: https://coingeek.com/maldives-digital-id-launch-aims-to-supercharge-economy/

Market Opportunity
SPACE ID Logo
SPACE ID Price(ID)
$0.04109
$0.04109$0.04109
+1.80%
USD
SPACE ID (ID) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

XRP Price Holds $1.44 as Crypto Fund Outflows Hit $1.9B and Pepeto Draws Capital

XRP Price Holds $1.44 as Crypto Fund Outflows Hit $1.9B and Pepeto Draws Capital

Crypto investment funds recorded $1.9 billion in weekly outflows as institutional investors took profits and reduced risk exposure following the FOMC decision.
Share
Techbullion2026/03/20 08:13
CME Group to Launch Solana and XRP Futures Options

CME Group to Launch Solana and XRP Futures Options

The post CME Group to Launch Solana and XRP Futures Options appeared on BitcoinEthereumNews.com. An announcement was made by CME Group, the largest derivatives exchanger worldwide, revealed that it would introduce options for Solana and XRP futures. It is the latest addition to CME crypto derivatives as institutions and retail investors increase their demand for Solana and XRP. CME Expands Crypto Offerings With Solana and XRP Options Launch According to a press release, the launch is scheduled for October 13, 2025, pending regulatory approval. The new products will allow traders to access options on Solana, Micro Solana, XRP, and Micro XRP futures. Expiries will be offered on business days on a monthly, and quarterly basis to provide more flexibility to market players. CME Group said the contracts are designed to meet demand from institutions, hedge funds, and active retail traders. According to Giovanni Vicioso, the launch reflects high liquidity in Solana and XRP futures. Vicioso is the Global Head of Cryptocurrency Products for the CME Group. He noted that the new contracts will provide additional tools for risk management and exposure strategies. Recently, CME XRP futures registered record open interest amid ETF approval optimism, reinforcing confidence in contract demand. Cumberland, one of the leading liquidity providers, welcomed the development and said it highlights the shift beyond Bitcoin and Ethereum. FalconX, another trading firm, added that rising digital asset treasuries are increasing the need for hedging tools on alternative tokens like Solana and XRP. High Record Trading Volumes Demand Solana and XRP Futures Solana futures and XRP continue to gain popularity since their launch earlier this year. According to CME official records, many have bought and sold more than 540,000 Solana futures contracts since March. A value that amounts to over $22 billion dollars. Solana contracts hit a record 9,000 contracts in August, worth $437 million. Open interest also set a record at 12,500 contracts.…
Share
BitcoinEthereumNews2025/09/18 01:39
Next Dogecoin: PEPE Cofounder Builds Real Value With Exchange Fee Revenue

Next Dogecoin: PEPE Cofounder Builds Real Value With Exchange Fee Revenue

Shiba Inu declined over 60% in 2025 despite launching Shibarium Layer 2 with DeFi capabilities, proving that even meme tokens with real utility tools cannot sustain
Share
Techbullion2026/03/20 08:43