Islamic Coin, the native coin of the Haqq ecosystem, with $ISLM as its symbol, is a 100% halal cryptocurrency which focuses on providing the global Muslim population with a financial platform that abides by the principles and traditions of Islam and aims to drive adoption of cryptos in the region. A non-profit organization, Haqq Association, has accredited and authorized it through the Fatwa of several Muslim authorities and will dedicate 10% of each issuance of the coin for philanthropic pursuits in the Muslim world. They partnered with the International Islamic University of Malaysia (IIUM) to increase blockchain and crypto awareness and DDCap Group for building a Web3 Shariah-compliant alternative to SWIFT.

Its public launch is set for 2023 and it has established commercial partnerships with several retail and e-commerce platforms to bridge traditional Web2 environments with Sharia-compliant Web3 technologies. It also had a successful fund raising in August 2022, securing over $200 million, giving it the potential to become a tier-1 asset, according to its co-founder Mohammed Alkaff Alhashmi who aims to see 3-4% of the online Muslim community holding the coin to make it a Bitcoin-scale asset. It had an impressive performance in 2022 as cryptocurrency transactions in the MENA region alone accounted for $566 billion, a 48% increase from the previous year.

Therefore, the Islamic Coin, with the strong backing of authority and the philanthropic approach of its founders aims to revolutionize digital finances and bring about crypto adoption in the Muslim world.



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