Unlocking the Future of Ethical Finance: Islamic Coin Begins to List ISLM on Top Crypto Exchanges

Following the successful launch of the public token offering on Republic Crypto, Islamic Coin is embarking on its next phase, which is listing on top exchanges, both centralized and decentralized.

Exchanges planned to list ISLM include Kucoin, Sushiswap, Haqqex and a few more. The listing marks a significant milestone and significant progress for Islamic Coin (ISLM) and its community; Access to a user base of over 80 million contributes to the acceptance of the emerging Sharia-compliant cryptocurrency.

What is Islamic Money and What is It Used For?

Islamic Coin is the native currency of HAQQ, an ethics-first PoS blockchain compatible with EVM and built using the Cosmos SDK module. HAQQ facilitates a Sharia-compliant financial ecosystem by providing the global Muslim population and other ethical finance enthusiasts with a financial instrument that supports innovation and philanthropy.

Islamic Coin is used for payments, management, payment of transaction fees and staking. But it is more than a digital currency. It is a comprehensive financial ecosystem designed to serve a multitude of use cases in line with Islamic principles.

The team is working on Islamic financial instruments that can be used by ISLM in a decentralized world. For example, Sukuk, the Islamic equivalent of bonds, by digitizing these instruments on the HAQQ blockchain, Islamic money can bring unparalleled efficiency and transparency to this massive market. Similarly, Islamic investment agreements such as Mudaraba and Musharaka can be executed in accordance with sharia through the platform.

Islamic Coin meets all the criteria of a halal entity. Among them is Sheikh Dr., who “protects” the $1 trillion Islamic finance market. Fatwas were received from prominent Muslim scholars, including Nizam “Gatekeeper” Muhammad Salih Yaquby. The project also brings direct economic value to the community; because 10% of every ISLM issuance is deposited into the Evergreen DAO for investment in Islam-related initiatives or donated to charities.

The private financing phase attracted investors and more than $400 million in financing was provided. Alpha Blue Ocean’s ABO Digital, DF101, Futurecraft Ventures, Optic Capital, A195 Capital and cross-sector HNWIs are among the project’s backers.
Exploring the Islamic Money Ecosystem

Islamic Coin encompasses a comprehensive financial ecosystem in line with Islamic principles.

• HAQQ Blockchain — At the heart of the ecosystem lies the HAQQ blockchain, a proof-of-stake, Layer1 network compatible with Cosmos-based blockchains such as Ethereum and BNB Chain. An intuitive blockchain explorer facilitates full transparency and security.
  
  HAQQ Blockchain enables easy deployment of existing Ethereum dApps and supports the development of new on-chain applications for the daily needs of the global Muslim community.
• HAQQ Wallet — HAQQ Wallet is a digital wallet used to manage Islamic Coin and future products on the HAQQ Blockchain. The application offers an interesting solution and supports streamlined operation and Shariah Oracle, both of which have been meticulously designed to ensure safe, accessible and Shariah-compliant transactions within Islamic DeFi. Multi-factor security is in the future plans to integrate with Ledger devices.
  HAQQ Wallet allows users to choose their preferred level of verification, either community or Sharia. This feature aligns user transactions with specific compliance requirements, enabling them to make informed decisions and assess the compliance level of their transactions.
  
  HAQQ Wallet has over 1.5 million downloads on the App Store. User reviews are generally positive at 4.8/5, highlighting the wallet’s intuitive interface and unique value proposition in Islamic finance.
• ISLM — Islamic Coin is the native token of the HAQQ blockchain. Leveraging the proof-of-stake consensus mechanism allows Islamic Coin to remain carbon neutral. Its rapidly growing ecosystem opens additional angles for application and utility, including rapid approval transactional use.
• HAQQPAD – HAQQPAD is a world-class launchpad for ethical projects and initiatives. HaqqPad will be a vital part of the HAQQ ecosystem. It will provide a trusted platform for innovative blockchain projects to launch, grow and positively impact their communities.
• Shariah Oracle — A real-time compliance tool that ensures the ISLM and HAQQ ecosystem remains Sharia compliant. As an on-chain record of halal certificates, Shariah Oracle enables HAQQ ecosystem users to interact only with halal-certified contracts and dApps through the HAQQ wallet.
  Oracle has a two-step authentication process through community voting and Sharia board evaluation. Notably, the absence or rejection of a halal certificate does not prevent the dApp from being deployed as a permissionless blockchain on HAQQ, but serves as a cautionary safeguard for HAQQ wallet users since only whitelisted contracts or dApps are listed in the wallet.
• Evergreen DAO — Evergreen DAO is a nonprofit virtual foundation focused on long-term sustainability and community impact. Through community voting, 10% of each ISLM issuance can be redistributed to support Muslim-based and ESG initiatives worldwide.

The ISLM team expects to add more products to their ecosystem and expand their application angles. For example, an app market is planned for HAQQ Wallet, while physical cards also bring Islamic Coin to real-world payments. The Muslim Coin team is also developing a stablecoin solution.

The project is also exploring new ways to create benefits through strategic partnerships in the migration, wellness, medical and travel industries, including collaborations with the UAE government. It also has agreements with Holiday Swap, the world’s largest home exchange platform, and a coalition of more than 300 Islamic banks through the DDCAP Group.

Paving the Way to New Age Finance

Building a Sharia-compliant Web3 ecosystem is vital for digital Islamic Finance, but its long-term importance goes beyond the world’s 1.9 billion Muslims. The project is moving towards a new financial environment where cutting-edge technology and ethical principles harmoniously coexist. Muslim Coin has the potential to reshape the future of finance, exemplifying inclusive and ethically responsible financial ecosystems globally, while continuing to foster innovation and partnerships.