The world’s first Sharia compliant cryptocurrency, Islamic Coin, will be launched to the public next month, one of its co-founders told Arabian Business.
Islamic Coin, which is still in private sales, runs on the Haqq Blockchain, a network that is compatible with thousands of applications around the world. Haqq, which means ‘truth’ in Arabic, strictly adheres to Islamic financial principles and traditions, with the Islamic Coin serving as its native cryptocurrency. The currency, which is still in private sales, is gaining support from venture capitalists and financial institutions. According to Mohammed AlKaff AlHashmi, co-founder of Islamic Coin, this support will increase community trust and confidence in the currency’s traction prior to its public release.