Islamic Coin plans public release, boosting crypto adoption amongst shariah compliant clientelle

Islamic Coin plans public release, boosting crypto adoption amongst shariah compliant clientelle

The Middle East has been at the forefront of rapid crypto adoption for the past few years. In 2022 alone, cryptocurrency transactions in the MENA region accounted for $566 billion: a 48% increase from the previous year. At the same time, five out of the top 20 countries in the global crypto adoption index are Muslim-majority nations, with Pakistan, Turkey, Indonesia, and Nigeria leading the group.

However, Muslims still hold significant reservations about digital assets, with the main concern being whether or not crypto is halal: e.g., earned lawfully and through ethical means according to the principles of Islam.

The Dubai-based Haqq ecosystem is addressing this concern with the launch of Islamic Coin: a 100% halal cryptocurrency.

New Fatwa-accredited Asset, Boosting Islamic Finance

Islamic Coin is the native token of the Haqq, the world’s first ecosystem that abides by the principles and traditions of Islam. Focused on driving crypto adoption in the region and boosting Islamic finance across 185 countries, Haqq aims to provide the global Muslim population with user-friendly, Shariah-compliant financial products.

The new currency will power seamless transactions and interactions in the ecosystem while supporting innovation and philanthropy: the network will dedicate 10% of each Islamic Coin issuance to philanthropic pursuits across the