$ISLM, the first Shariah-compliant cryptocurrency, has just made a remarkable debut on the crypto market with its successful launch. Islamic Coin, which aims to provide a digital money solution for the global Muslim community, has launched a couple of days back.
The coin was backed by a staggering $400 million in private funding and strategic partnerships with DDCAP Group, a leading provider of asset facilitation services and financial technology solutions to the Islamic financial market. Islamic Coin also announced that it will be integrated with payment providers this year, making it easier for users to access and use $ISLM.
The launch of Islamic Coin was met with high demand and enthusiasm from both Muslim and non-Muslim investors who saw the potential of the coin as an ethical and transparent alternative to traditional cryptocurrencies. The coin’s price soared from its initial listing price of $0.25 to over $0.35 in less than a week, making it one of the best performing coins in the crypto space.
$ISLM’s price increase was also driven by its limited supply of 20 billion tokens, which creates scarcity and value for the coin. The coin’s supply is also governed by a smart contract that ensures that 2.5% of the profits are donated to charitable causes every year, in accordance with the principles of Zakat, one of the five pillars of Islam.
Islamic Coin’s would not be possible without the brilliant minds and ideas of the people behind the success of $ISLM including Andrey Kuznetsov (Co-founder & CTO), Alex Malkov (Co-Founder & CEO), Mohammed AlKaff AlHashmi (Co-Founder) and Hussein Mohammed Al Meeza (Co-Founder).
$ISLM is expected to continue its growth and expansion in the coming months, as it plans to launch more features and services for its users (Oh that includes me 😁), such as a Shariah-compliant DeFi platform, a Halal NFT marketplace and a global Islamic Coin community. It is also looking to partner with more Islamic financial institutions and organizations to increase its adoption and reach.
And as per usual ending of every medium article I have written, allow me to once again say:
Therefore, I conclude that $ISLM, indeed is proving to be a game-changer in the crypto industry, as it offers a unique value proposition that combines innovation, ethics, and faith. It is not just a coin for Muslims, but for anyone who believes in a better future for humanity.
Note: Don’t forget to give 50 applauses for $ISLM as the title of my article implies. You have an amazing day! 😉
Reference: https://islamiccoin.net/
