Forging Paths in Fintech: Islamic Coin and CoinDesk Indices Collaborate for Sharia-Compliant Crypto Solutions  

Islamic Coin, the key currency of the HAQQ blockchain platform, aims to establish a financial ecosystem in compliance with Sharia law. In this regard, a collaboration has been initiated with CoinDesk Indices for the research and development of cryptocurrency standards that will meet the requirements of Sharia, primarily for the markets of the Middle East and North Africa.

About the Collaboration

This project is focused on creating benchmarks that will be licensed by CoinDesk Indices for financial products traded on the exchange. HAQQ, a blockchain platform concentrating on developing a financial system in accordance with Sharia and the origin of Islamic Coin, will, in turn, gain access to the CDI API for a range of digital assets, including those listed on their digital asset exchange.

A Look into the Future

Mohammed AlKaff AlHashmi, the founder of Islamic Coin, is confident that this partnership has the potential to transform the industry of digital financial services compliant with Sharia. This is particularly relevant in light of forecasts suggesting that the global market for Islamic finance could reach $3.69 trillion by 2024.

Conclusion

The collaboration between Islamic Coin and CoinDesk Indices opens new horizons for fintech development, offering innovative solutions that are in line with Sharia principles. This not only contributes to market diversification and expansion but also provides opportunities to include more people in the modern financial system, respecting their cultural and religious values.