Uzbekistan’s highest Islamic authority has retracted a fatwa it issued on June 3 that deemed trading with cryptocurrencies impermissible. This declaration, which stated that cryptocurrency trading violated Sharia law, was mistakenly released on social media due to an oversight. In response, the Fatwa Center issued a statement titled “Correction and Apologies.” The statement disclosed that […]
Bitcoin News
UAE Virtual Assets Regulator Says Islamic Coin Issuer Has ‘Cooperated Fully’
Bored Gen DMCC, the issuer of islamic coin, has cooperated fully with the Virtual Assets Regulatory Authority’s ongoing investigation into the token’s issuance and distribution. Bored Gen, however, still needs to “secure appropriate approvals” before it undertakes to distribute the islamic coin (ISLM) in the Dubai market.
BG Undertook Remedial Measures
The United Arab Emirates (UAE) digital assets regulator, the Virtual Assets Regulatory Authority (VARA), recently revealed that Bored Gen DMCC (BG) — the issuer of islamic coin — had cooperated fully during its investigation into the issuance, marketing and distribution of the token. It added that BG had “undertaken remedial measures, including the implementation of adequate public disclosures for improved market assurance.”
However, in its Nov. 16 enforcement notice, the regulator said it had determined that the issues which are the subject of its ongoing investigation constituted “technical non-compliance.” The notice went on to state that BG still needs to “secure appropriate approvals” before it undertakes any distribution of islamic coin (ISLM) in the Dubai market. The notice added:
BG may continue business operations related to non-VA Activities, subject to maintenance of regular engagement with VARA and fulfilment of the necessary obligations including full compliance with all applicable regulatory requirements.
As previously reported by Bitcoin.com News, VARA blocked the sale and distribution of ISLM after a determination was made that BG lacked the authority to do so.
Issuer vs Developer Entity
Meanwhile, a statement issued on behalf of BG reveals that the organization is not the issuer of the token as stated by VARA. According to the statement, BG is in fact, a “developer entity” working to develop essential components such as the Haqq Wallet and Launchpad. It also asserts that the public sale of ISLM took place on the Republic platform, a regulated entity based in the United States.
In addition, the token sale is said to have adhered to Reg D and S for U.S. and non-U.S. investors respectively. On the other hand, Dubai was explicitly excluded from the sale, the statement added.
What are your thoughts on this story? Let us know what you think in the comments section below.
Dubai Regulator Blocks the Sale and Distribution of Islamic Coin
Dubai’s Virtual Assets Regulatory Authority (VARA) recently said the company distributing and marketing islamic coin (ISLM) lacks the authority to do so. VARA said Bored Gen DMCC must cease marketing activity until it obtains the appropriate approvals. The steps taken by the regulator came just a few days after the crypto project was named the blockchain innovation of the year.
Unauthorized Issuance and Distribution of Islamic Coin
The Dubai digital assets regulator, the Virtual Assets Regulatory Authority (VARA), has alerted investors and market participants to what it describes as “an unauthorized issuance, marketing and retail distribution” of islamic coin (ISLM) by Bored Gen DMCC (BG). In an alert issued on Oct. 4, the regulator insisted that BG is not a licensed or registered virtual assets (VA) issuer hence its activities are in violation of the region’s regulations.
VARA also said the public sale of the token through a “Regulation D Offering arranged by Opendeal Portal LLC” may be a potential violation of Regulation III.A.1. According to the regulator, BG has not been granted the required approval by VARA.
Islamic Coin Marketed Without Approval
The action taken by VARA coms just under a month after the team behind the crypto project announced the commencement of the sale and distribution of ISLM. The steps taken by the regulator also came just a few days after the crypto project was named the blockchain innovation of the year.
#IslamicCoin has been awarded for Blockchain Innovation of the Year in @entmagazineme’s annual Tech Innovation Awards 2023 in Dubai.
Congratulations to the #ISLM team and our community #EntMEAwards pic.twitter.com/cb9Jsmaqgm
— Islamic Coin (@Islamic_Coin) October 3, 2023
However, despite this and other milestones that the crypto project has achieved, the regulator insisted in its alert that the promoters of the token may have marketed this without approval. The regulator added:
“VARA are investigating whether there has been a breach of Administrative Order No. 01/2022 Relating to Regulation of Marketing, Advertising and Promotions Related to Virtual Asset. BG are to cease marketing activity until it obtains the appropriate approvals from VARA and introduces appropriate disclaimers in connection with such marketing.”
VARA added that investors and those who have been targeted by BG should notify the regulator via email.
What are your thoughts on this story? Let us know what you think in the comments section below.
‘Islamic Coin’s Legitimacy as a Sharia-Compliant Cryptocurrency Is Proven by Its Fatwa’ — Co-Founder
According to Mohammed AlKaff AlHashmi, the co-founder of “Islamic Coin,” Muslim scholars will increasingly view cryptocurrencies as being “Shariah-compliant” if they function as a store of value or are used as a medium of exchange. Alhashmi added that Islam’s “robust” ethical framework already “accommodates modern technological advancements such as the blockchain and cryptocurrencies.” This, he said, may help explain the gradual acceptance of unbacked digital assets by some in the Islamic community.
Crypto Acceptance in the Muslim World
Despite this changed perception towards cryptocurrencies, many Islamic-themed digital tokens that were launched in the past have seemingly failed to emulate the success of pioneering coins like bitcoin (BTC) or ethereum (ETH). In contrast, Alhashmi’s islamic coin appears to have garnered substantial financial support as evidenced by the 0 million in funding recently secured from ABO Digital.
When asked why islamic coin has seemingly done better, AlHashmi pointed to how the project’s multifaceted approach broadens its “reach and enhances our value proposition.” The co-founder also argued that the coin’s apparent success on the funding front can be seen as a testament to the Islamic community’s approval of this approach.
However, critics of AlHashmi’s crypto project assert that the coin is not Sharia-compliant as claimed. They also accuse AlHashmi and his team of attempting to lure devout Muslims with such false claims. In his response, AlHashmi told Bitcoin.com News that such allegations “overlook the fundamental architecture and ethos of our project.” The co-founder also went on to identify aspects of islamic coin which he asserts back the Sharia-compliant claims.
Below are AlHashmi’s written answers to questions sent to him via Linkedin.
Bitcoin.com News (BCN): The islamic coin project appears to have had quite a successful year so far. From securing 0 million from Alpha Blue Ocean’s ABO Digital to working with Republic Crypto on a token sale, it would seem that you have fared better where others have struggled to stay afloat. Can you explain to our readers why the Islamic Coin project has been able to garner the support it has today?
Mohammed AlKaff AlHashmi (MKH): The immense support behind islamic coin can be attributed to the multifaceted approach that sets it apart in the crowded cryptocurrency landscape. First and foremost, our project is not limited to catering to crypto-native individuals. While many projects focus solely on this demographic, islamic coin aims to bridge the gap between crypto-native and non-crypto audiences. This broadens our reach and enhances our value proposition.
Also, we’re not just creating a crypto product; we’re building a comprehensive ecosystem that aligns with Shariah principles. This resonates with a global Muslim population of approximately 1.9 billion people. Our project is designed to be more than just a financial instrument. It aims to integrate seamlessly into various aspects of daily life, from social media interactions to healthcare services.
Investors recognize the enormous potential of a project that not only adheres to ethical guidelines but also serves a large, untapped market. The support we’ve garnered is a testament to our innovative approach and the significant impact we’re poised to make in the digital asset space.
BCN: A few years ago, influential Islamic institutions and governments warned Muslims against buying or selling virtual money. Today, there are several so-called Islamic cryptos listed on crypto exchanges and to some, this can be seen as an endorsement of some kind. Do you agree with this assessment?
MKH: The evolving stance on cryptocurrencies within the Islamic community is a complex issue. People tend to approach every new technology with caution, and that’s exactly what happened. As time goes on, and understanding increases, so does the positive stance on those technologies. That leads to increased awareness, which leads to increased adoption.
In Islamic financial jurisprudence, traditional currency is expected to be backed by tangible assets like gold or silver.
However, many cryptocurrencies function more as digital finance assets rather than traditional currencies. These assets serve as a store of value and a medium for transactions, and their value fluctuates based on community adoption. When viewed through this lens, scholars are increasingly recognizing that digital assets can be Shariah-compliant, provided they are not used for activities that contravene Islamic principles, such as usury or the trade of prohibited substances.
Islam’s ethical framework is robust enough to accommodate modern technological advancements, including blockchain and cryptocurrencies. As awareness grows, resistance often gives way to acceptance, not just within the Islamic landscape but also in broader societal contexts.
It’s also worth noting that today, more Islamic scholars and Islamic financial institutions are delving deeper into blockchain technology and its capabilities — smart contracts, transparency, and community governance — and they are finding that it aligns well with the principles of Islamic finance. This has led to a more favourable view of digital assets within the Islamic community, paving the way for greater acceptance and adoption.
So, the shift in perception is not so much an endorsement as it is an evolution of understanding, driven by increased awareness, technological advancements, and the realization that digital assets can coexist with Islamic principles.
BCN: What is your perception of the regulatory environment in the Middle East and North Africa (MENA) region versus Europe, where you are headquartered?
MKH: The regulatory environment in MENA and Europe are distinct, each shaped by its own set of socio-economic, cultural, and political aspects. Many view Europe as the standard in financial innovation, but it’s important to recognize that they also deal with challenges. The 2008 financial crisis reminds us that a system built on interest-based loans can also have economic downturns. High interest rates and overpriced assets created a liquidity gap, which can trigger a crisis with global ramifications.
In contrast, the Islamic financial system, prevalent in the MENA region, has demonstrated resilience through community-centric values. In 2015, Islamic financial entities in Jordan recorded a -0.9% inflation rate while the world grappled with inflation rates exceeding 7.1%. This underscores the inherent stability of an interest-free, balanced financial system that prioritizes community well-being over profit.
However, while the Islamic financial system has proven its efficacy, it has not been adequately served by modern technology. This is a gap we’re trying to bridge with Islamic coin, and we want to inspire more Shariah-oriented fintech ventures to emerge across the market.
BCN: Some claim that islamic coin’s compliance with Islamic law cannot be verified. What makes you say your project is Shariah-compliant and why is this important for the digital currency?
MKH: Islamic coin’s legitimacy as a Sharia-compliant cryptocurrency is proven by its Fatwa, a significant Islamic ruling given to the project by renowned Islamic scholars and professionals in Islamic banking. This Fatwa is not just a stamp of approval; it’s a rigorous validation of our coin’s adherence to the principles of Shariah. Beyond this pivotal endorsement, islamic coin’s design and operational framework are deeply rooted in Islamic financial principles. It operates on a profit-and-loss sharing system, aligning with the prohibition of interest-based lending in Islamic finance.
Every transaction on the HAQQ blockchain is transparently recorded on a decentralized ledger, ensuring further compliance. Our commitment to these principles ensures that the token provides a genuinely Sharia-compliant avenue for the global Muslim community to engage with digital assets, bridging modern finance with ethical financial practice.
BCN: Critics also claim that there is nothing Islamic about your coin and that you are only using this to win over devout Muslims who would otherwise not invest or buy the coins. What would be your response to this?
MKH: Such claims are not only false, but they also overlook the fundamental architecture and ethos of our project. Unlike traditional centralized systems, where transparency might be a concern, blockchain technology allows for unparalleled scrutiny. Every aspect of islamic coin, from its smart contracts to its financial transactions, is open to public verification. This transparency extends to our Sharia compliance as well. Our scholars and issued Fatwa can be easily verified on our website.
Moreover, we’ve gone a step further by implementing the Shariah Oracle, a mechanism designed to verify the decentralized applications (dapps) created on the HAQQ chain. This ensures that applications align with Islamic principles, providing an additional layer of trust and compliance.
It’s important to remember that islamic coin is not just an exclusive crypto product; it’s an inclusive financial instrument built on a foundation of Islamic ethics. From profit and loss sharing to transparency and community contributions, every feature is designed to be in harmony with Islamic principles. A portion of the coin’s proceeds is allocated to Islamic charities and projects, adhering to the principle of zakat, one of the core pillars of Islam.
What are your thoughts on this interview? Let us know what you think in the comments section below.
Sharia-Compliant Islamic Coin Secures $200 Million in Funding From ABO Digital
Islamic coin, a Sharia-compliant crypto asset, has secured 0 million from ABO Digital, which brings to 0 million the total funding that the project has received. The latest capital raise is expected to give the crypto project access to funding of up to 0 million as well as to ensure that the coin “has a long and stable runway.”
Revolutionizing the Sharia-Compliant Market
Islamic coin, the “Sharia-compliant” digital asset, has secured 0 million from ABO Digital, the digital asset investment arm of the ABO group. The latest raise brings to 0 million the total funding the crypto project has received.
According to a press release, ABO Digital’s capital injection is expected to give crypto-asset access to funding of up to 0 million as well as to ensure that the coin “has a long and stable runway.” Remarking on ABO Digital’s decision to partner with Islamic Coin, Amine Nedjai, the CEO of the digital asset investment firm, said:
ABO Digital is thrilled to collaborate with Islamic Coin as an alternative finance provider. This ambitious project, supported by a stellar team, is revolutionizing the Shariah-compliant market by introducing digitization. We are honoured to have been selected as a partner.
In addition to receiving global recognition, Islamic Coin has signed a memorandum of understanding with the United Kingdom-based DDCAP Group. This partnership, according to the press release, will result in the development of several solutions for Islamic Finance such as a Shariah-compliant Web3 alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). A digital asset platform, central bank digital currencies, and tokenization are the other solutions that will ostensibly be developed as a direct result of the partnership.
Islamic Coin co-founder Mohammed AlKaff AlHashmi said his team is “building a game-changing financial platform that brings together ethics and the traditions of Islamic Finance.”
Some of the big-name Middle East North Africa (MENA) leaders that are reportedly backing the crypto project include the grandson of the United Arab Emirates founder Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan. Besides the backing of the Abu Dhabi and Dubai ruling families, the endeavor is supported by Islamic finance experts.
What are your thoughts on this story? Let us know what you think in the comments section below.
Russia Involved in De-Dollarization Talks With the Islamic World to Create Independent Financial System
Russia and the Islamic world are currently discussing how to deepen the de-dollarization agenda to create a new financial system. According to statements from Russian Deputy Prime Minister Alexey Overchuk, these topics are inscribed in broader deglobalization talks, and the Russian government is invested in developing these issues with Islamic countries.
Russia Talks De-Dollarization With Islamic Nations
Russia is veering to the east in order to build a less polarized world and is currently involved in talks about de-dollarization and the construction of a new financial system away from the dominance of the traditional hegemonies. According to Russian Deputy Prime Minister Alexey Overchuk, the Russian Federation is currently in broad talks with the Islamic world that include these subjects and other related topics.
During the international economic forum Russia-Islamic World: KazanForum, Overchuk stated:
Our relations with the countries of the Islamic world cannot but be influenced by the global shifts that are taking place and the global trends. We are talking about processes of de-dollarization and the creation of an independent financial system.
In this sense, Russia has been recently seeking the construction of an alternative financial system to let them transact with other countries without relying on SWIFT, the global banking linking system, and the U.S. dollar, as the Group of the Seven (G7) intends to further restrict Russian access to the financial system.
Deglobalization on the Table
However, these talks are not limited to the previously mentioned topics but are merely inscribed into more comprehensive subjects that include deglobalization and how to deal with the changing trends in how investments are moving in the countries in the current geopolitical context.
Overchuk explained he was positive about the outcome of these talks, remarking on the common problems that Russia and these countries are facing. Overchuk declared:
This broader agenda and how it affects countries and relationships enables us to see that relations between Russia and the Islamic states have a very large and very positive future. The government is doing a lot to ensure further development along these lines.
Russia has recently narrowed its relations with Iran, announcing the construction of the Rasht-Astara railway, a route prompted as a rival to the Suez Canal that would connect India, Iran, Russia, Azerbaijan, and other countries part of the Islamic world with 162 km of railway.
What do you think about the de-dollarization and deglobalization talks that the Russian Federation is conducting with Islamic countries? Tell us in the comment section below.
Shariah-Compliant Islamic Coin Raises $200m, Beating All Records in 2022
Shariah-compliant Islamic Coin has secured 0M during its private sale from international private buyers. The crypto, targeting the world’s 2 billion Muslim population and ethics-first crypto adopters have broken all records, becoming the top private sale raise in 2022 and the top 10 raise in history.
The Shariah-compliant digital currency has gained a Fatwa, issued by the world’s leading experts in Sharia Law. The edict was led by Sheikh Dr. Nizam Mohammed Saleh Yaquby, recognized as ‘The Gatekeeper’ of a trillion market for Islamic financial products.
The award-winning team includes leading traditional and Islamic Finance figureheads such as Peter Rafferty, former manager of the 0 billion portfolio at the Abu Dhabi Investment Authority and Khamis Buharoon Al Shamsi, former Head of the Banks Inspection Team at the Central Bank of the UAE.
Co-founders Hussein Al Meeza, Mohammed Alkaff, Alex Malkov and Andrei Kuznetsov all boast impressive resumes. Both Mr. Al Meeza and Mr. Alkaff are leading experts in finance and technology. While Hussein Al Meeza was a key personality of Dubai Islamic Bank, the first fully-fledged Islamic bank in the world as well as a Founding Member of Emaar Properties and AMLAK Finance, Mohammed Alkaff is a computer science engineer, with more than 18 years of experience in Industry 4.0, Artificial Intelligence, and machine learning. Andrey Kuznetsov is a serial entrepreneur and engineer, focused on fintech, cybersecurity and network development, while Alex Malkov has consulted projects for its key members, including AAVE, Bequant, Scalable Solutions, AADollar and other industry leaders.
Islamic Coin’s ethics-first philosophy has earned it praise in the Middle East and internationally. The digital currency, built on a foundation of religious and ethical standards, is the only digital asset in the world that gives back to its community. 10% of each issuance of ISLM is directed towards the Evergreen DAO, which focuses on charity, philanthropy and Shariah-compliant and sustainable ventures.
Islamic Coin is built on its own Haqq Blockchain, the first Shariah-compliant decentralized ledger, specifically designed to abide by the rules and traditions of Islamic Finance. The international roadshow continues in the Middle East and Europe, and ISLM will be launching on top-tier exchanges soon.
Top GCC Banker Hussein Al Meeza Joins Islamic Coin Executive Board
Top financier and banker Hussein Al Meeza has joined Islamic Coin – the Shariah-compliant cryptocurrency launched in the UAE. Having been named Best Islamic Banking Personality in 2006, Mr. Al Meeza is an acclaimed award-winning expert with over 40 years of experience spanning the Islamic banking, finance and insurance sectors, and has been one of the key personalities involved in establishing Dubai Islamic Bank.
Among his many accolades and executive roles are some of the Region’s top institutions. Mr. Al Meeza is the founder of Al Salam Banks in Sudan, Bahrain and Algeria, as well as a founding member of Emaar properties, Amlak Finance, Emaar Industries & Investments and Emaar Financial Services. He served as CEO and Managing Director of Dubai Islamic Insurance and Reinsurance Company (AMAN), Chairman of LMC Bahrain and many other leading players.
By adding his leadership skills, professionalism and expertise, the Islamic Coin team has reaffirmed its mission to deliver Shariah-compliant, industry-grade financial instruments ready for the Digital Age. Working in tandem with its Fatwa committee and for the world’s Muslim community as a whole, Islamic Coin is building value and delivering future-proof solutions, that offer seamless transactions while supporting innovation and philanthropy.
“It is a pleasure to be part of this amazing team and I look forward to building ethics-first financial instruments that will empower Muslims throughout the world,” commented Mr. Al Meeza.
Islamic Coin’s Shariah Board, as Fatwa issuer, boasts leading names in Shariah compliance, including Dr. Nizam Saleh Yakuby, Dr. Mohamed Zoeir and Dr. Essam Khalaf Al-Enezi, among others. Together, the Board Members have advised on Shariah-compliant practices in some of the top financial institutions in the world, including Standard Chartered, Dubai Islamic Bank, and BNP Paribas.
Islamic Coin has a finite supply and 10% of each issuance is automatically dedicated to philanthropy. The digital money includes an Evergreen Fund dedicated to funding ethical, Shariah-compliant startups throughout the World.
World’s Largest Islamic Country, Indonesia Forbids Crypto Trading
It doesn’t come as a surprise to many as Islamic societies are known to label cryptocurrency trading as a form of “Haram”. Many Islamic organisations in the past have condemned the trading of digital assets such as cryptocurrency and even non-fungible tokens. Recently, the Tarjih and Tardid Council of Muhammadiyah also issued a similar memorandum stating that “Tarjih’s fatwa stipulates that cryptocurrencies are illegal both as an investment tool and as a medium of exchange,”. A fatwa implies that the currency is tagged as unlawful for the community.
The particular Islamic organisation, the Tarjih Council and the Central Executive Tajdid of Muhammadiyah have precisely provided a few arguments which validated this particular decision. The Islamic council stated that the use of cryptocurrencies is unlawful or illegal as it accounts for “gharar” and “dharar”. The two aforementioned terms basically point towards cryptocurrencies carrying elements of ‘speculation’. The fatwa quoted “This speculative nature and gharar is forbidden by the Shari’a as the word of God and the hadith of the Prophet SAW and does not meet the values and benchmarks of Business Ethics according to Muhammadiyah.”
The Expository Argument Presented In The Fatwa
The Fatwa primarily provided two crucial points of contention, the most important being the speculative and volatile nature of the asset. The other issue with cryptocurrencies is that the asset doesn’t tick the standards of Islamic barter, i.e medium of exchange. The unreliability of crypto has therefore been condemned by the Islamic Council.
Related Reading | HIFO: The Tax Loophole That Could Be Helping Bitcoin Investors This Tax Season
The Council also expressed concerns regarding the legitimacy of the currency as Bitcoin and other cryptocurrencies still haven’t been recognised as currency or a medium of exchange backed by an underlying asset such as gold. The Islamic fatwa underlines these ideas that since crypto is a dynamic asset, it cannot be considered as a viable investment.
Any asset that is prone to speculation and fluctuation will be considered ‘Haram’. The other principles also points towards illegal activities which are conducted with the help of cryptocurrencies. The digital asset also has a tendency to be used for gambling purposes, additionally crypto isn’t a tangible asset making it another reason why the Islamic community forbids the same.
The crypto industry’s growth has attracted a lot of negative attention | Source: TOTAL-CRYPTOCAP on TradingView.com
How Does Fatwa Affect Cryptocurrency Trading In Indonesia
The Indonesian Ulema Counci (MUI) earlier had insisted on a similar ban last year November. The MUI however, remained open to accepting crypto if the same abode by Sharia tenets. The other Islamic organisation that declared cryptocurrency ‘Haram’ was Nahdlatul Ulama making Muhammadiyah the third most prominent Islamic organisation to label the asset same. The Sharia law encompasses the idea that the digital asset has to be a trading commodity and not just a form of investment and transaction. The Commodity Futures Trading Regulatory Agency decided to look into the same, therefore, suggesting that cyptocurrecy trading would continue to operate in Indonesia.
Related Reading | European Markets Regulator Urges The EU To Ban Proof-of-Work Bitcoin Mining
Indonesia of late dealt with a couple of bans owing to religious concerns, despite the same Indonesian market was optimistic about crypto adoption. Crypto transactions zoomed up in the country and recorded close to .8 billion in asset’s transaction. This development signalled that in 2021, there has been a 1,222% appreciation in numbers as compared to 2020.
In accordance to the same, reportedly there were 11.2 million crypto investors as seen at the end of last year which is again a massive 180% jump compared to 2021. Therefore, it is safe to conclude that another fatwa won’t dull the asset’s popularity among Indonesians.
Featured image from iStockPhoto, Charts from TradingView.com
NewsBTC
CAIZCOIN – An Islamic Blockchain Platform
Derived from the Arabic word Caiz, Caizcoin is an Islamic Blockchain platform that provides money transfer services. With a vision to create financial freedom for every individual, Caizcoin offers creative financial solutions. The company facilitates participation in the modern financial world for every person while complying with Islamic values.
What is Caizcoin?
Caizcoin is a decentralized financial platform and cryptocurrency that offers quick, safe, and economical international money transfers. Starting in 2020, the company provides a mutual platform for the Islamic and modern world to perform money transfers on a global level. The company’s ruling principle is to provide financial freedom to people while being compliant with Islamic values.
Caizcoin is the first platform to be officially certified as an Islamic blockchain platform and company. It is compliant with Islamic financial law and also approved by Islamic scholars. The company acts as a beacon of hope as it opens the global cryptocurrency market for Muslims.
Based out of Germany, Caizcoin has an expert team of dynamic global leaders from various industries. The collective skillsets of these individuals ensure the smooth functioning of the company while following Islamic values. Caizcoin is a unique DeFi platform that leverages modern digital technology while staying within the boundaries of Islamic law.
Caizcoin provides additional safety to its users by working out of its own decentralized blockchain. Apart from safe transactions, the company also ensures quick and anonymous ledger accountability and unique growth potential.
What does Caizcoin offer?
Caizcoin is also a crypto coin that works on the Islamic principle in the Defi space. Apart from being a blockchain, the company also offers Caizcoin API to accommodate easy 3rd party integrations such as credit cards, wallets, vendors, etc., to incentivize its currency’s usage. Users can also benefit from Caizcoin wallets that provide maximum security and privacy for all crypto transactions. Caizcoin is a complete digital banking solution that works on Islamic banking principles and values.
The company as a stablecoin offers several modern digital financial solutions to encourage global usage. They even provide an exemption from fees to worldwide investors for a specific ratio of withdrawal. These investors can enjoy secure, private, and quick transfer of funds using Caizcoin’s blockchain technology.
The company has a wide user-base, including traveling business-people and Islam followers that use online money transfer facilities. They also serve institutional and retail investors to promote global business transactions. Caizcoin has established its presence in several locations such as Europe, Africa, Middle East, Asia-Pacific, North and South America.
Conclusion
Caizcoin is a reliable platform with a team of global experts that offers tech-savvy and innovative solutions for the worldwide cryptocurrency exchange industry. The company is now offering a private sale of their cryptocurrency that can benefit their users. Caizcoin as a stablecoin can be used for several purposes including for shopping without any extra fees.