Islamic Coin Partners with Bitsday Indices for Sharia-Compliant Benchmarks Dialogue
HAQQ, a blockchain platform that centers around the development of a financial system in line with Shariah principles, has seen its native cryptocurrency, Islamic Coin, enter into a significant agreement with Bitsday Indices. This strategic partnership is set to delve into the creation of crypto benchmarks that strictly adhere to Shariah principles. These benchmarks will be custom-tailored to cater to the unique dynamics of the Middle East and North Africa markets.
Moreover, the collaboration has set its sights on streamlining the licensing process for a range of Bitsday Indices benchmarks, making them available for deployment in various exchange-traded financial products. Additionally, HAQQ, being a blockchain platform at the forefront of establishing a Shariah-compliant financial ecosystem and the originating platform of Islamic Coin, will be granted access to BDI's API for specific digital assets, including those featured on its own digital asset exchange.
Mohammed AlKaff AlHashmi, the visionary founder of Islamic Coin, expressed his enthusiasm about this collaborative endeavor. He underscored the substantial growth forecasted for the global Islamic finance market, which is expected to exceed a staggering $3.69 trillion by the year 2024. In his view, this partnership bears the potential to bring about a transformative shift in the realm of Shariah-compliant digital financial services.