Switzerland-based startup X8 AG has received certification from Shariyah Review Bureau (SRB) to your stablein, released on the Ethereum blockchain. About it reports Reuters.
According to Director and co-founder of X8 Francesca Greco, developed by stabilin backed by a basket of seven Fiat money and gold. Such a security minimizes the volatility of the asset and opportunities for speculation, which is in harmony with the rules of Islamic Finance.
As part of the expansion of business in Middle East countries X8 is planning to launch a cryptocurrency trading platform that complies with the norms of Sharia. To this end, the company has already held meetings with representatives of the local exchanges in Abu Dhabi, Dubai and Bahrain.
“The Gulf region is a really good place for FINTECH companies”, — assured Francesca Greco.
We will remind, this summer the certificate of conformity of Sharia law received a blockchain Stellar.