Crypto exchange platform Bybit has launched the world’s first Shariah-compliant Islamic account. This innovative account caters to the growing demand for halal financial products in the cryptocurrency space.
Introduction
The new Islamic account allows users to trade digital assets without engaging in prohibited activities such as interest-based transactions (riba) or gambling.
Account Details
The account offers a limited selection of 75 Shariah-compliant tokens for spot trading. The platform also includes Dollar-Cost Averaging (DCA) trading bots and Spot Grid Bots. These tools are designed to help traders systematically invest without violating Shariah principles.
Significance
This launch marks an important milestone in integrating Islamic finance into the cryptocurrency industry. Partnering with ZICO Shariah, a well-regarded advisory firm based in Malaysia, ensures the platform’s compliance with Islamic law. This initiative could set a new standard for halal cryptocurrency trading and accelerate its adoption among Muslim investors.
Bybit’s Islamic trading account represents a significant step towards offering halal financial products in the cryptocurrency space. It expands access for Muslim investors to safe and Shariah-compliant opportunities in digital assets.
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