Shaping the Future: Islamic Coin Partners with CoinDesk Indices at TOKEN2049

FinanceFeeds Editorial Team

Mohammed AlKaff AlHashmi announces a pivotal MoU between Islamic Coin and CoinDesk Indices at TOKEN2049, marking a transformative era for Shariah-compliant digital finance.

Today, at the TOKEN2049 conference, Mohammed AlKaff AlHashmi of Islamic Coin unveiled an MoU with the reputed digital asset index leader since 2014, CoinDesk Indices (CDI). This memorandum outlines intentions to cultivate innovative index approaches collaboratively.

“This partnership marks a promising alignment of interests as both entities look to tap into the rapidly growing interest in crypto and inclusive finance,” commented Mohammed AlKaff AlHashmi. “With the global Islamic finance market forecasted to surpass $3.69 trillion by 2024, this collaboration is poised to reshape the landscape of Shariah-compliant digital financial services.”

Anticipated Cornerstones of the Alliance:

Novel Financial Instruments: A mutual goal to license CDI indices for exchange-traded products, unlocking doors for innovative offerings like the Islamic Coin ETF and other Shariah-compatible multi-token solutions.

Index Creation: The birth of new Shariah-friendly indices that seamlessly integrate the expertise of the Shariah oracle and abide by systematic compliant methodologies.

Data Integration: Islamic Coin’s HAQQ will have privileged API access to a curated list of digital assets provided by CDI, a feature integral to its digital currency exchange platform.

Alan Campbell, CDI’s President, shared, “We are excited to expand our presence into the MENA region through this collaboration. CoinDesk is committed to serving global markets and offering solutions that drive the digital asset opportunity and community forward.”

Islamic Coin’s influence has grown significantly. An earlier alliance with the globally recognized decentralized exchange, Sushi, assures various advantages for the Islamic Coin fraternity. Benefits include avenues for liquidity provision, strategic asset staking, and lucrative token rewards during the liquidity mining era. Its accolades, like the Most Promising ESG Crypto and the prestigious Golden Excellence Award, underscore its achievements.

This proposed alliance between CDI and Islamic Coin promises a transformative shift in ethical financial services and digital currencies. With a harmonized vision, both organizations are gearing up to pioneer disruptive innovations and bolster involvement in digitized asset solutions.

An integral part of the HAQQ’s ethical financial paradigm, Islamic Coin endeavors to arm the international Muslim populace with appropriate financial tools tailored for the digital era. The Shariah Oracle is pivotal in maintaining user engagement with only those dApps compliant with Shariah principles. A notable 10% of each $ISLM emission aids the Evergreen DAO, channeling funds towards ventures and charities resonating with Islamic values. Following its landmark $400 million private acquisition, Islamic Coin’s launch across multiple exchange platforms is eagerly awaited in September 2023.

An offshoot of CoinDesk, CDI has carved a niche for itself in digital asset indices since its inception in 2014. Their extensive catalog ranges from standalone asset reference rates to dynamic strategy indices. Their revered Bitcoin Price Index (XBX) speaks volumes of their prowess, and their broad-spectrum indices cater to various investment strategies.

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