A memorandum of understanding (MoU) between Islamic Coin and CoinDesk Indices has been introduced at TOKEN2049 in Singapore.
The native forex of HAQQ, the Shariah-compliant community-run community, Islamic Coin is exploring a strategic partnership with CoinDesk Indices, the supplier of digital asset indices by AUM following the MoU.
On the occasion, Mohammed AlKaff AlHashmi, founding father of Islamic Coin stated: “This partnership marks a promising alignment of pursuits as each entities look to faucet into the quickly rising curiosity in crypto and inclusive finance. With the worldwide Islamic finance market forecasted to surpass $3.69trillion by 2024, this collaboration is poised to reshape the panorama of Shariah-compliant digital monetary providers.
Main highlights of this proposed relationship embody:
- Index-Based mostly Merchandise – Licensing of varied CDI indices for exchange-traded monetary merchandise. This paves the best way for modern devices equivalent to an Islamic Coin ETF, Staked Islamic Coin ETF, and multi-token Shariah-compliant merchandise.
- New Indices – Creating new Shariah-compliant indices, incorporating the Shariah oracle and compliant systematic methods.
- Index Knowledge – CDI will provide API entry to chose digital belongings for HAQQ’s inner use, together with its digital asset trade.
“We’re excited to develop our presence into the MENA area by means of this collaboration,” stated Alan Campbell, president of CoinDesk Indices. “CoinDesk is dedicated to serving international markets and providing options that drive the digital asset alternative and group ahead.”
Making progress within the digital asset trade
Over the previous 12 months, Islamic Coin has garnered huge assist from the trade. Earlier this 12 months, the undertaking partnered with Sushi, a decentralised trade. This partnership guarantees a number of advantages for the Islamic Coin group. This contains liquidity provision, asset staking, and token incomes through the liquidity mining part.
Moreover, the undertaking has additionally received a number of awards. These contains: Most Promising ESG Crypto and the Golden Excellence Award from The Center East Blockchain Awards.
The newest proposed collaboration between Islamic Coin and CDI heralds a brand new chapter in moral finance and digital forex. With a shared imaginative and prescient and dedication, each entities intend to drive change and develop participation in digital asset options.