Bank of Maldives (BML) has officially launched its multi-currency digital wallet “Swipe”, with the platform unveiled during a special event held alongside the ITB Berlin tourism fair in Germany.

The launch ceremony was officiated by Maldives Association of Tourism Industry (MATI) Chairman Hussain Afeef, with the digital wallet also introduced as the official wallet of Visit Maldives.

According to BML, Swipe is a digital payment platform developed in the Maldives and designed to comply with international standards governing financial transactions. The wallet enables users to carry out both domestic and international payments.

In addition to linking with Bank of Maldives accounts, the wallet allows funds to be added using credit, debit and prepaid cards issued by banks worldwide. Users can also send and receive money instantly, make QR-based payments, monitor their spending, and share payment links.

BML said the application also supports contactless QR payments across the Maldives, while enabling users to receive funds into their multi-currency wallet from anywhere in the world. Funds can also be transferred between Swipe and BML accounts for easy deposits and withdrawals.

The platform also includes services designed for businesses, allowing merchants to receive payments instantly into their accounts, which BML said will help businesses manage cash flow more efficiently.

Swipe was first introduced in October last year, followed by beta testing in December. A limited release of the wallet was introduced in January, allowing users to experience its core features prior to the official launch.