Islamic crypto moves to reassure investors as Silicon Valley Bank goes bust

March 16, 2023

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Crypto ventures such as Islamic Coin, backed by the Swiss-based non-profit Haqq Association, are making smart moves to reassure investors with grant and investment initiatives, as well as diversifying into new segments through tie-ups, as funds from several virtual currency firms remain trapped in the failed Silicon Valley Bank (SVB), raising new investor concerns about the sector.

The Shariah-compliant digital money venture will invest $40 million to launch a global ‘Grants and Investment’ programme for the Muslim community and beyond. The Shariah-compliant blockchain Haqq Network (HAQQ) has also announced an exclusive integration with Holiday Swap, the world’s largest home exchange platform that allows users to book, host, or swap homes.

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