November 30, 2022

Islamic Coin Wins Most Promising ESG Crypto at MEBA

Islamic Coin

Islamic Coin

Islamic Coin, an emerging cryptocurrency that complies with the rules of Shariah, won Most Promising ESG Crypto award at the prestigious Middle East Blockchain Awards (MEBA), according to Khaleej Times.

Islamic Coin is a native currency of Haqq, a community-run network, dedicated to empowering an ethics-first Shariah-compliant financial ecosystem. Haqq is a halal-compliant, application-specific blockchain built on the Cosmos SDK.

The Middle East Blockchain Awards event was held in Abu Dhabi on November 18, honoring 14 of the region’s key players in the field of blockchain and Web 3.0.

In this regard, Islamic Coin Co-founder Mohammed AlKaff AlHashmi said the award is proof that the cryptocurrency aligns with the requirements of the Environmental, Social, and Governance (ESG) principles and promotes ethical and sustainable activities.

Meanwhile, Islamic Coin’s Co-founder and Chief Technology Officer Andrey Kuznetsov said: “We have a digital currency that not only makes social contributions through charity but is also good to society because it uses a proof-of-stake system that requires the purchase of tokens to be part of the network, a process that saves significant amounts of energy.”

Islamic Coin targets reaching 1.1 billion Muslim internet users worldwide. Recently, the Islamic cryptocurrency has gained a wide reputation from eminent figures in both traditional and Islamic finance and has secured support from royal families in the United Arab Emirates.

According to Islamic Coin website, the value of Islamic finance is predicted to reach $3.69 trillion. It is worth mentioning that the Islamic finance industry expanded by approximately 11% last year. The website also expected an increase in the number of major corporations and regional governments, which want to tap into the Islamic finance ecosystem.

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