UAE-based Islamic Coin gains over 1.3mln users, paves the way for halal crypto investments

UAE-based Islamic Coin gains over 1.3mln users, paves the way for halal crypto investments

Haqq and Islamic Coin have joined the DDCap group to create a Sharia-compliant Web3 alternative to Web2 financial products. Dubai: The world of crypto is rife with risky investments. Many new coins and services ask for financial contributions with little guarantee of return, and stories of crypto investors losing large sums make headlines frequently. There is a problem of ethics and reliability in the crypto world that has proven difficult to resolve. The Haqq network, powered by Islamic Coin ($ISLM), aims to change that trend, and cater to over 2 billion Muslims worldwide. Founded in 2022, the Haqq network is based on the Haqq blockchain: the first Shariah-compliant decentralized ledger specifically designed to follow the rules and traditions of Islamic finance. Islamic Coin has a community of over 1.3M users — a feat accomplished in less than six months, demonstrating strong support and interest from global communities. In a world with growing CSR initiatives, many have taken an interest in Islamic finance products, as they promote mainly CSR businesses and even altruism and economic activity. Compared to other financial models, Islamic finance shares the risks and profits, meaning that everyone from all income levels can benefit. Islamic finance also has