Islamic Coin, a Shariah-compliant, ethics-first cryptocurrency, has announced that it will launch on Sept. 1 on various centralized and decentralized exchanges. Both traditional and Islamic finance circles have been anticipating this launch, with the team having secured $400 million in funding and laid out various plans for the project’s future.
In March, Islamic Coin signed with UK-based DDCAP Group, creating a link to various infrastructure projects financed by more than 300 Islamic banks around the world. DDCAP, which has over 20 years of experience in bringing sustainable intermediary services and systems to the Islamic financial market, will cooperate closely with the Islamic Coin team to launch exclusive and revolutionary finance solutions that are tailored for today’s Digital Age.
Islamic Coin has also announced an exclusive integration with Holiday Swap, one of the world’s largest home exchange platforms, which has more than 1 million global users. HAQQ, the blockchain Islamic Coin is built on, will become the exclusive Web3 partner, allowing Holiday Swap to add its loyalty token system and all related operations to Web3. This partnership will allow the users of both platforms to provide more services to clients on an ethics-first, industry-grade digital platform.
Last month, Islamic Coin partnered with Sushi – one of the world’s largest decentralized exchanges. Following its launch, Islamic Coin’s global community will enjoy various benefits, including the ability to provide liquidity, stake their assets, and earn tokens during the liquidity mining phase.
“It is both an honour and a privilege to lead Islamic Coin into the future. This is a momentous occasion that we have all been waiting for, and I look forward to presenting more exciting details soon,” said Mohammed AlKaff AlHashmi, founder of Islamic Coin.
Since being unveiled, Islamic Coin and HAQQ Blockchain have received global recognition and acclaim. The team has received several accolades, including Most Promising ESG Crypto and the esteemed Golden Excellence Award bestowed by His Excellency Sheikh Nahyan Mubarak Al Nahyan, the UAE’s Minister of Tolerance, at The Middle East Blockchain Awards. The team has also presented its ideas in front of international leaders at the UN’s COP27, demonstrating their commitment to supporting the UN’s climate goals.
The Islamic Coin Advisory Board includes members of the ruling families of Abu Dhabi and Dubai, including Sheikh Dr Hazza bin Sultan bin Zayed Al Nahyan, the grandson of the UAE’s founder, Sheikh Zayed bin Sultan Al Nahyan; UAE Navy Chief Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan (advising in a private capacity); Sheikh Khalifa Bin Mohammed bin Khalid Al Nahyan; Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan; His Highness Sheikh Juma bin Maktoum Al Maktoum; and Her Highness Sheikha Mariam Suhail Obaid Suhail Al Maktoum.
Islamic Coin’s Executive Team includes several leading names in traditional and Islamic finance, including Emaar’s Hussein Al Meeza (who is also a co-founder), an award-winning banker with over 45 years of experience in the Islamic banking, finance, and insurance sectors. He is also one of the key personalities involved in establishing Dubai Islamic Bank – the first full-fledged Islamic Bank in the world. The Executive Board also includes Khamis Buharoon AI Shamsi, Assistant Director of the Internal Audit Division of the Central Bank of the UAE. Greg Gigliotti, CEO, Chief Investment Officer, and Founding Partner of Xtellus Advisors also recently joined the initiative. Gigliotti is a respected fund manager with experience at Goldman Sachs and other global institutions, and he has managed a portfolio of more than $16 billion throughout his career.
(Source: https://www.usatoday.com/story/special/contributor-content/2023/08/15/shariah-compliant-cryptocurrency-islamic-coin-to-launch-on-sept-1/70597909007/)
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