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Throughout his speech at TOKEN2049 in Singapore, Mohammed AlKaff AlHashmi, Founding father of Islamic Coin, introduced a landmark Memorandum of Understanding (MoU) between Islamic Coin, a local foreign money of HAQQ, a community-run community, devoted to empowering an ethics-first Shariah-compliant monetary ecosystem, and CoinDesk Indices (CDI), the main supplier of digital asset indices by AUM since 2014, to discover a strategic partnership to develop groundbreaking index methods.
“This partnership marks a promising alignment of pursuits as each entities look to faucet into the quickly rising curiosity in crypto and inclusive finance,” stated Mohammed AlKaff AlHashmi. “With the worldwide Islamic finance market forecasted to surpass $3.69 trillion by 2024, this collaboration is poised to reshape the panorama of Shariah-compliant digital monetary companies.
Main highlights of this proposed relationship embody:
- Index-Based mostly Merchandise – Licensing of varied CDI indices for exchange-traded monetary merchandise, paving the best way for modern devices corresponding to an Islamic Coin ETF, Staked Islamic Coin ETF, and multi-token Shariah-compliant merchandise.
- New Indices – Creating new Shariah-compliant indices, incorporating the Shariah oracle and compliant systematic methods.
- Index Knowledge – CDI will provide API entry to chose digital property for HAQQ’s inner use, together with its digital asset alternate.
“We’re excited to increase our presence into the MENA area by way of this collaboration,” stated Alan Campbell, President of CoinDesk Indices. “CoinDesk is dedicated to serving international markets and providing options that drive the digital asset alternative and group ahead.”
Over the previous 12 months, Islamic Coin has garnered large assist from the {industry}. Earlier this 12 months, the venture partnered with Sushi, one of many world’s prime decentralized exchanges. This partnership guarantees a number of advantages for the Islamic Coin group, together with liquidity provision, asset staking, and token incomes in the course of the liquidity mining section. The venture has additionally gained a number of awards together with, Most Promising ESG Crypto and the Golden Excellence Award from The Center East Blockchain Awards.
The most recent proposed collaboration between Islamic Coin and CDI heralds a brand new chapter in moral finance and digital foreign money. With a shared imaginative and prescient and dedication, each entities intend to drive revolutionary change and develop participation in digital asset options.
Be the primary to learn about updates relating to this thrilling partnership by contacting us at this time.
About Islamic Coin
Islamic Coin is a Shariah-compliant cryptocurrency native to the HAQQ ethics-first monetary ecosystem. It goals to equip the worldwide Muslim group with halal monetary devices for the digital age, enabling seamless transactions and interplay whereas supporting transparency, innovation, and philanthropy.
Shariah Oracle’s on-chain mechanism controls a whitelist of good contracts to make sure customers work together solely with Shariah-compliant dApps. On the identical time, 10% of every $ISLM issuance is deposited into Evergreen DAO for additional funding into Islam-related ventures or charities, bringing direct financial worth to the group. The venture raised $400 million throughout a personal sale, beating all earlier information. Islamic Coin is ready to launch on each centralized and decentralized exchanges in September 2023.
About CoinDesk Indices
CoinDesk Indices (CDI), a subsidiary of CoinDesk, has been the main supplier of digital asset indices by AUM since 2014. CDI is pushed by analysis and a need to coach {the marketplace} and empower buyers. CoinDesk is probably the most trusted media, occasions, indices and knowledge firm for the worldwide crypto economic system.
CDI has three distinct product traces: single-asset reference charges and indices, broad market and sector indices, and dynamic technique indices. The CoinDesk Bitcoin Worth Index (XBX) has the longest index observe report and underlies the world’s largest digital asset merchandise. The broad market and sector indices provide probably the most complete suite of broad market benchmarks, and the investible sectors are constructed utilizing CDI’s industry-adopted taxonomy. The dynamic technique indices assist buyers goal particular outcomes.
Press Contacts
Islamic Coin
Anastasiia Kulibaba, PR Supervisor
[email protected]
Casey Craig, World Head of Communications at CoinDesk
[email protected]
JConnelly
[email protected]
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