First Islamic crypto-market starts soon

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Foto: Andre Francois / Unsplash

At the beginning of September, the first crypto exchange for the Islamic world will be launched. 

The DAB Solutions company from the United Arab Emirates wants to launch the first crypto trading platform where transactions comply with Islamic law, reports Wired. The First Islamic Crypto Exchange – short FICE – should allow Muslims to act with a clear conscience with cryptocurrencies like Bitcoin. Certain activities, such as margin trading, are prohibited.

According to the press release, FICE’s business model will consist of commission fees for currency exchange, withdrawals and the listing of new tokens. To ensure compliance with Islamic law, ADAB Solutions intends to set up its own council of Sharia experts