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.

Judge Dismisses Market Manipulation Suit Against Elon Musk; Ryan Salame's Plea Deal Saga

01:11

Breaking Down Bitcoin's Selling Pressure

28:01

Nansen CEO Reveals Top Crypto Projects to Watch

00:51

How Lower Interest Rate Could Impact the On-Chain Ecosystem

02:04

OpenSea Receives 'Wells Notice' From SEC; Telegram CEO Pavel Durov Indicted on 'Complicity'

"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.

Edited by Kevin Reynolds.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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.

Judge Dismisses Market Manipulation Suit Against Elon Musk; Ryan Salame's Plea Deal Saga