The Bank of Maldives (BML) has unveiled Swipe, a new multicurrency digital wallet designed to enable seamless, instant, and secure payments both within the Maldives and internationally.

The new digital wallet was officially launched by President Dr. Mohamed Muizzu at a ceremony held today.

Developed entirely by Maldivian talent, Swipe marks a major milestone in the nation’s fintech landscape and represents a key step in BML’s ambition to become the leading digital bank in the region.

According to the Bank, Swipe provides customers with a fast and secure platform for digital transactions from making contactless QR code payments across the country to transferring and receiving funds globally.

Users will also be able to manage multiple currencies in a single account, gain insights into spending habits, and top up their wallets using any debit, credit, or prepaid card issued by any bank worldwide.

For merchants, Swipe offers real-time settlements, ensuring smoother cash flow and immediate access to funds.

The system has been built with robust security features and is fully compliant with both local and international payment standards.

BML stated that the app serves as a local alternative to international digital wallets, catering especially to freelancers and online entrepreneurs who receive cross-border payments.

It will also offer a convenient payment option for tourists visiting the Maldives.

Speaking at the launch, BML CEO and Managing Director Mohamed Shareef described Swipe as a landmark innovation for the country’s digital payment ecosystem.

BML confirmed that Swipe will be released for beta testing in December 2025.