- Haqq’s Sharia-compliant Islamic coin plans to launch publicly in 2023.
- The 100% halal coin has helped enhance crypto adoption in Muslim international locations.
- Haqq co-founder Mohammed Alkaff Alhashmi stated, “The coin has the potential to grow to be a Tier 1 asset.”
Islamic Coin ($ISLM), the native coin of the Haqq ecosystem, plans to launch publicly in 2023. Haqq could be the primary ecosystem on the earth to stick to the rules and traditions of Islam. This explicit coin goals to supply the worldwide Muslim inhabitants with a monetary platform and is a 100% Halal cryptocurrency.
In line with the staff, the Islamic coin is poised to assist alleviate Muslims’ reservations about digital property, because it respects the customs of Islam. Targeted on selling the adoption of crypto within the area and boosting Islamic finance in 185 international locations, Islamic Coin has obtained Fatwa accreditation and authorization from a number of Muslim authorities.
The group states that its mission is to supply the worldwide Muslim inhabitants with a monetary platform that allows real-time, clear, and cross-border transactions whereas supporting Web3 improvements and philanthropy. To this finish, the community will dedicate 10% of every Islamic coin concern to philanthropic actions within the Muslim world.
Haqq Affiliation, the not-for-profit ecosystem affiliation, has partnered with Worldwide Islamic College Malaysia (IIUM) to extend blockchain and crypto consciousness with a optimistic studying setting . Haqq and Islamic Coin have not too long ago partnered with the DDCap group and might be engaged on a Sharia-compliant Web3 different to SWIFT in addition to different merchandise.
Haqq can be forming a number of enterprise partnerships with retail and e-commerce platforms to introduce Sharia-compliant Web3 applied sciences into conventional Web2 environments. Most not too long ago, he partnered with Vacation Swap, the world’s largest residence alternate platform, to transition the corporate’s tokenized operations to Web3.
Stating that the coin has the potential to grow to be a Tier 1 asset, Haqq co-founder Mohammed Alkaff Alhashmi says:
If solely 3-4% of the web Muslim neighborhood holds the coin, it might grow to be a bitcoin-scale asset.
Contemplating final 12 months’s bear market, the Islamic coin achieved a file feat by getting over $200 million in August 2022. Additionally it is value noting that in 2022 alone, crypto transactions foreign money within the MENA area accounted for 566 billion {dollars}: a rise of 48% in comparison with final 12 months.
