Iota Unveils Shari’a-Compliant Token, Enhancing Accessibility for Islamic Markets.
Today, IOTA, an open-source distributed ledger technology (DLT) for Web3 applications and digital economies, announces that the IOTA token is Shari’a-compliant.
IOTA Breaks New Ground: First Shari’a-Compliant Token
IOTA, the innovative distributed ledger technology (DLT) platform, has achieved a significant milestone by securing Shari’a compliance certification from the esteemed Cambridge Institute of Islamic Finance. This groundbreaking achievement positions IOTA as a pioneer in the intersection of blockchain technology and Islamic finance.
By adhering to the strict guidelines and principles of Shari’a law, IOTA has demonstrated its commitment to ethical and transparent operations. The certification underscores the token’s suitability for the vast Muslim market and its potential to drive financial inclusion in regions governed by Islamic law.
The IOTA Ecosystem DLT Foundation, based in Abu Dhabi, has been instrumental in this endeavor. Recognizing the growing importance of Shari’a compliance in the Middle East, the foundation has implemented robust governance frameworks to ensure ongoing adherence to Islamic principles. The establishment of a Shari’a Governance Framework (SGF) and the appointment of an external Shari’a advisor further solidify IOTA’s dedication to meeting the highest standards of Islamic finance.
This certification is a testament to IOTA’s ability to adapt to diverse regulatory landscapes while maintaining its core values of decentralization and security. As the world of finance continues to evolve, IOTA’s Shari’a compliance serves as a model for other cryptocurrencies seeking to expand their reach into Islamic markets.
By bridging the gap between technology and tradition, IOTA has opened up new possibilities for the Islamic finance industry. With its potential to revolutionize payment systems, supply chain management, and other sectors, the Shari’a-compliant IOTA token is poised to play a pivotal role in the future of finance.
This landmark achievement not only strengthens IOTA’s position in the global market but also reinforces its reputation as a trusted and reliable platform. As the IOTA ecosystem continues to grow and mature, it is evident that Shari’a compliance will be a cornerstone of its success.