Unique: Sharia-compliant Islamic Coin secures funding from Optic Capital

• Islamic Coin is a Sharia-compliant digital cash venture powered by the HAQQ blockchain.
• Optic Capital has made an funding of undisclosed quantity within the venture, whose ISLM token launches on September 1.

Islamic Coin, the Shariah-compliant cryptocurrency, has secured funding from Web3 enterprise agency Optic Capital. The funding options an undisclosed quantity, the Switzerland-based crypto venture revealed through a press launch completely shared with CoinJournal.

Optic Capital has invested in main crypto tasks, together with Polkadot, Chainlink and Compound.

Islamic Coin (ISLM) is the native token of HAQQ, the ethics-first L1 blockchain devoted to making a Shariah-compliant monetary ecosystem. The crypto venture was co-founded by UAE entrepreneurs Mohammed AlKaff AlHashmi and Hussein Al Meeza, and is gearing up for its official launch on September 1, 2023.

Islamic Coin attracts international VCs

With consideration in the direction of the platform rising quickly since its inception, a lot of the highlights have been on key partnerships and strategic investments. A rising record of VCs and personal capital proceed to again it, largely as a consequence of what it might obtain by way of international adoption.

Optic Capital’s funding provides to this group of main enterprise capital companies and personal funds which have backed the cryptocurrency.

 “Islamic Cash’ distinctive product market match develops a path for a group of greater than 1 billion potential new blockchain customers. The venture is extremely differentiated, arduous to repeat, and elegantly solves a fancy adoption downside. As soon as we understood the potential dynamics at play, for us, it appeared like an apparent platform to again”, mentioned Optic Capital Managing Accomplice.

In July, Islamic Coin staff introduced it had raised $200 million from traders to deliver its groundbreaking funding to $400 million. Funding members now embody Alpha Blue Ocean’s ABO Digital, DF101, and Futurecraft Ventures. The venture has additionally attracted funding from a number of high-net value people (HNWIs).

Other than funding, Islamic Coin has struck key partnerships throughout the globe. They embody the just lately introduced integration with DDCAP Group, Vacation Swap and over 300 Islamic Banks. Within the MENA area, the venture has lined up 5 partnerships throughout Medical, Wellness, Immigration and the Journey sectors.

Islamic Coin and HAQQ are additionally set to be Web3 and innovation companions of a number of corporations related to Dubai’s ruling household.

Particulars on the HAQQ web site additionally exhibits the community has built-in with Axelar, Sushi and Allnodes amongst different platforms.