Islamic Coin Makes a Landmark Entry on KuCoin: A Leap for Shariah-Compliant Crypto

Jack R. Mitchell

Islamic Coin announces its inaugural listing on KuCoin, marking a significant stride towards bringing Shariah-compliant finance to the global crypto sphere.

Islamic Coin, known for its Shariah-compliant attributes, is making headlines as it announces its listing on KuCoin, one of the world’s leading crypto exchanges. The listing, scheduled for 10 October, marks a milestone as Islamic Coin’s first exchange listing, with more in the pipeline.

“We are excited about this milestone and look forward to building more relationships with leading exchanges throughout the world, in order to bring the benefits of Shariah-compliant finance to the Muslim community and beyond,” commented Islamic Coin CEO Mohammed AlKaff AlHashmi.

Charity and philanthropy form a major pillar of the Islamic Coin ecosystem. The team has been diligently cultivating connections within sustainability circles, marking its presence at international events like COP27 in Sharm El Sheikh and the Youth International Conference in New York, under the UN’s auspices. Islamic Coin, in conjunction with the HAQQ blockchain operating on a Proof-of-Stake mechanism, is lauded for its eco-friendly attributes, aligning with the UN’s goals of reduced energy consumption and broader access to financial services.

The global traction both Islamic Coin and its underlying Haqq Network have gained is significant. Strategic partnerships have been fostered, notably with London’s DDCAP Group, easing integration with over 300 global Islamic Banks. Collaborations have also been cemented with key entities like Fambras, the largest global Halal certification agency, and Sushi, a notable decentralized exchange on the global arena. The ecosystem further envelops Pyypl, one of the Middle East’s largest payment applications, and Holiday Swap, the world’s leading home-swapping service.

The Advisory Board boasts members of Abu Dhabi and Dubai Ruling Families, including Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan, Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, Sheikh Khalifa Bin Mohammed bin Khalid Al Nahyan, Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan and His Highness Sheikh Juma bin Maktoum Al Maktoum. The team also includes top names in traditional and Islamic finance. The Executive Board features Emaar’s Hussein Al Meeza (who is also a co-founder), a key figure in establishing Dubai Islamic Bank. It also includes Khamis Buharoon AI Shamsi, the former Assistant Director of the Finance Division, and Assistant Director of the Internal Audit Division of the Central Bank of the UAE, and Greg Gigliotti, CEO, Chief Investment Officer, and Founding Partner of Xtellus Advisors, a respected fund manager with a stellar career at Goldman Sachs managing a portfolio of over $16 Billion.

Islamic Coin’s Shariah Board is steered by Sheikh Dr. Nizam Mohammed Saleh Yaquby, recognized by Bloomberg as ‘The Gatekeeper’ of a $2 trillion market for Islamic financial products. Sheikh Yaquby holds positions on the Shariah boards of top international finance institutions, including HSBC, Lloyds TSB, Barclays, France’s BNP Paribas, Credit Agricole, and Citigroup.

This monumental listing on KuCoin embodies a substantial step towards mainstream acceptance of Shariah-compliant financial instruments in the crypto domain, setting a positive precedent for the melding of Islamic finance principles with contemporary digital asset infrastructure.

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

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