“People need a platform where they can trust every token they interact with, so we don't have to go hunting on different platforms,” says Naquib Mohammed, founder of the Aussie-based Marhaba DeFi.
Australian-based crypto platform Marhaba DeFi says there has been a strong take-up of Halal-approved cryptocurrency products on its platform, with aims to release a suite of new products which align with Islamic law by the end of 2022.
“People need a platform where they can trust every token they interact with, so we don't have to go hunting on different platforms, tapping into different [Islamic] scholars or experts asking ‘can I invest in this protocol, this token, this strategy?’” “The fundamental property of blockchain is its transparent, it's immutable, so bringing Islamic finance onto the blockchain makes perfect sense. Because of that transparency blockchain is the perfect puzzle piece that fits this gap.”backed by real and audited bullion reserves. Mohammed says there's more to be added to the platform such as tokenized wheat, barley, soya, and cocoa.