Islamic Coin in Pact With CoinDesk Indices to Discuss Sharia-Compliant Benchmarks
Islamic Coin is the native currency of HAQQ, a blockchain focused on developing a Shariah-compliant financial ecosystem.
Sep 14, 2023 at 3:30 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VWOCA6IFUZHTFEWDEYN3HOAE6E.webp)
The HAQQ network is focused on developing a Shariah-complaint ecosystem (May Lim/Unsplash)
Islamic Coin has entered into a memorandum of understanding with CoinDesk Indices to discuss building Shariah-compliant crypto benchmarks for the Middle East and North Africa markets.
Another aim of the partnership is licensing CoinDesk Indices benchmarks for exchange-traded financial products. Also, HAQQ – a blockchain focused on creating a Shariah-compliant financial system and the home of Islamic Coin – will get access to CDI's API for selected digital assets, including for its digital asset exchange.
"With the global Islamic finance market forecasted to surpass $3.69 trillion by 2024, this collaboration is poised to reshape the landscape of Shariah-compliant digital financial services," said Mohammed AlKaff AlHashmi, founder of Islamic Coin.
CoinDesk Indices is a subsidiary of CoinDesk.
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