Bank of Maldives (BML) has launched Swipe, a multicurrency digital wallet developed by Maldivians, designed to enable fast, secure, and convenient financial transactions both within the Maldives and internationally.

Speaking at the launch ceremony, BML CEO and Managing Director Mohamed Shareef said Swipe was created to provide seamless, secure, and modern financial services to customers at home and abroad.

According to BML, Swipe will showcase the Maldives’ growing fintech capabilities in the global digital financial market. The wallet allows users to make contactless payments through QR codes anywhere in the Maldives, transfer funds instantly, receive payments from abroad, and view real-time spending statistics.

Users can deposit money into their Swipe wallet using debit, credit, or prepaid cards issued by any bank worldwide. The wallet also supports transfers to BML accounts. In addition, businesses can use Swipe to deposit funds directly into their accounts.

BML stated that Swipe is built with advanced security features and is fully compliant with both local and international financial regulations. It is designed as a locally developed alternative to foreign digital wallets and will support freelancers, online businesses, and tourists in making and receiving payments conveniently across currencies.

Swipe will be open for beta testing in December this year.