Here’s how Islamic Coin (ISLM) addresses the challenges of Sharia-compliant banking
Despite the prolonged crypto winter that has impacted numerous crypto projects and dropping the overall crypto market cap by more than 60%, there is still more room to grow. The crypto space is now entirely dedicated to building new products and reconfiguring the financial landscape to address global issues stemming from TradFi, such as inequality and exclusion.
Islamic Coin is used for payments, governance, paying transaction fees on the HAQQ blockchain, and staking. Having the idea to digitize Islamic Finances, the ISLM should be available as a decentralized form of traditional Islamic finance instruments like Sukuk, which are the Islamic equivalent of bonds.
Islamic Coin has got a Fatwa from prominent Muslim scholars in 2022 which means it is a halal asset. Among project’s backers are Alpha Blue Ocean’s ABO Digital, DF101, Futurecraft Ventures, Optic Capital, A195 Capital, and cross-industry HNWIs are among the project’s backers., a proof-of-stake, Layer1 blockchain compatible with Ethereum and Cosmos-based networks. According to the data published on the project's website, over 2.
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