Australian-based crypto platform Marhaba DeFi says there has been a strong take-up of Halal-approved cryptocurrency products on its platform, with aims to release a suite of new products which align with Islamic law by the end of 2022.
Launched in 2020, the platform is focused on adhering to the rules of “Islamic finance” which refers to how businesses and individuals raise capital in accordance with Sharia, or Islamic law.
Speaking to Cointelegraph, Marhaba DeFi founder and CEO Naquib Mohammed said active users of their noncustodial multichain Sahal Wallet have grown to around 40,000 since its launch, stating:
“People need a platform where they can trust every token they interact with, so we don’t have to go hunting on different platforms, tapping into different [Islamic] scholars or experts asking ‘can I invest in this protocol, this token, this strategy?’”
“You just download a wallet, and it will give you everything that’s halal in the crypto ecosystem,” he adds.
Marhaba, meaning...
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