Global blockchain platform Binance has launched a Sharia-compliant multi-token in alignment with Islamic principles to promote inclusivity in crypto-trading.
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The token is launching with Binance Coin, ethereum, and Solana, and has been Sharia-certified by Sharia advisory firm Amanie Advisors.
Targeting the untapped $4 trillion Islamic finance market, Sharia Earn will allow Muslims to participate in the decentralised finance movement without concern for how it conflicts with Islamic banking principles.
Richard Teng, CEO of Binance, stated, “Our mission has always been to create an inclusive and transparent trading environment. With this product we’re empowering the Muslim community and Sharia focused investors to participate in one of the most exciting financial revolutions of our time. This is more than a product – it’s a movement toward a more principled and equitable digital economy that promotes financial freedom for all.”
Sharia Earn will be available for users in the following countries:
- Afghanistan
- Algeria
- Bangladesh
- Bhutan
- Egypt
- Indonesia
- Iraq
- Jordan
- Kuwait
- Lebanon
- Libya
- Maldives
- Morocco
- Nepal
- Oman
- India
- Pakistan
- Palestinian territories
- Qatar,
- Saudi Arabia
- Sri Lanka
- Sudan
- Tunisia
- Turkey
- UAE
- Yemen
- Uzbekistan
- Kyrgyzstan
- Turkmenistan
- Azerbaijan
- Tajikistan
In June this year, Binance announced an AI-powered app interface titled Binance UI Refined.
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