AMMAN, Jordan — Islamic Coin, the world's first Sharia-compliant cryptocurrency, will be launched next month, according to co-founder Mohammed AlKaff AlHashmi.
The currency, which operates on the Haqq Blockchain, adheres to Islamic principles and traditions on finance, Arabian Business reported.
It has been gaining support from venture capitalists and financial institutions and will address the needs of and add value to the community, AlHashmi said.
AlHashmi said that the coin will be launched to the public in May, but did not specify a date.
“We started with private sales mode for a reason. We don’t want people to think that we are using the word ‘Islamic’ to play on their emotions and then moving on to become an investment in something they don’t know,” he told Arabian Business.
‘First Mover’ Advantage
“We did some market research and found out that Bitcoin, for example, has become the most famous and successful coin because they have the ‘first mover’ advantage, and it was the first coin,” he added, according to the report.
Feeling the FOMO Fever? CUToday.info Has a Prescription
Are you missing out on the latest news in credit unions? Missing the trends and developments you need to be aware of? We can help. Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
And it’s free!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com