Islamic Coin, the Shariah-compliant, ethics-first crypto has again shattered records, securing $200M from Alpha Blue Ocean’s ABO Digital. Total funding has reached $400M, beating Circle, BlockFi and Solana and has become one of the largest ever in the history of crypto space.
Both Islamic Coin and the Haqq Network that powers it cater to the world’s 1.9 billion Muslims and beyond, focused on game-changing products and services. The award-winning digital money has received worldwide recognition from international luminaries, state and regional leadership, as the team delivers on its mission to empower the world’s Muslim community with a financial instrument for the Digital Age.
The latest partnership will entail introducing Islamic Coin to the ABO network of investors and helping the team structure innovative Shariah-compliant financial products that could be used in the digital asset space to raise alternative funding. The deal provides for access to a maximum of $200M as and when required and ensures Islamic Coin has a long and stable runway.
“ABO Digital is thrilled to collaborate with Islamic Coin as an alternative finance provider. This ambitious project, supported by a stellar team, is revolutionizing the Shariah-compliant market by introducing digitization. We are honored to have been selected as a partner,” commented ABO Digital CEO Amine Nedjai.
The alliance comes on the heels of another major win for the team, as it signed an MOU with London based DDCAP Group, paving the way for Haqq Network integration with over 300 global Islamic banks. That partnership will see the development of a number of solutions for Islamic Finance that include a Shariah-compliant Web3 alternative to SWIFT, a digital asset platform, CBDCs, tokenization and other ventures.
“We are building a game-changing financial platform that brings together ethics and the traditions of Islamic Finance, delivering a robust solution that benefits and works together with traditional systems to significantly improve the state of the world,” commented Islamic Coin co-founder Mohammed AlKaff AlHashmi.
Islamic Coin will be listed on exchanges soon.
