Islamic Coin, an revolutionary Shariah-compliant crypto platform, secured a $200 million funding from ABO Digital, an organization of Alpha Blue Ocean (ABO), Bankless Instances discovered from a press release. ABOis a sector-agnostic different funding agency working worldwide because the founders’ household workplace.
The largest fundraise in crypto historical past
This funding brings the overall funding to $400 million, with which Islamic Coin surpasses Solana, Circle, and BlockFi, making it one of many largest fundraisings in crypto historical past.
The platform was launched by Mohammed AlKaff AlHashmi and Hussein Al Meeza, two Emirati entrepreneurs, in 2021. It targets Muslim traders, giving it profitable potential because the world’s Muslim inhabitants is sort of 2 billion.
The platform is acknowledged each domestically and globally and has gained appreciable help for its mission to empower Muslims with a cutting-edge, digital period monetary instrument. Cofounder Mohammed AlKaff AlHashmi commented:
Constructing Shariah-compliant monetary merchandise
The partnership with ABO Digital will introduce Islamic Coin to their community of traders and help in structuring innovative Shariah-compliant monetary merchandise for the digital asset area.
ABO Digital CEO Amine Nedjai added:
Current milestones
The partnership follows one other main milestone for Islamic Coin. The crypto platform signed an MOU with DDCAP Group, enabling Haqq Community integration with greater than 300 Islamic banks worldwide. This memorandum will help in growing a number of options for Islamic Finance, together with a Web3, Shariah-compliant SWIFT different, CBDCs, a digital asset platform, tokenization, and different initiatives.
