Bybit Launches First Shariah-Compliant Crypto Islamic Account

• Bybit launched the world’s first Shariah-compliant crypto Islamic account with 75 approved tokens for spot trading.
• Bybit consulted ZICO Shariah, a licensed advisory firm, to ensure Islamic financial compliance.
• The account includes DCA and Spot Grid trading bots for ethical, advanced crypto trading options.

Bybit has announced the launch of the world’s first crypto Islamic account, designed to comply with Shariah principles. This new offering targets the growing demand for ethical and faith-based financial solutions within the crypto sector. 

According to Bybit, the account provides users with access to a range of features, including spot trading, DCA trading bots, and Spot Grid Bots. The platform will offer 75 Shariah-compliant tokens for spot trading initially. 

Shariah-Compliant Features Aim to Meet Growing Demand

Notably, the creation of the crypto Islamic account followed consultations with ZICO Shariah, a licensed advisory and consulting firm based in Kuala Lumpur, Malaysia. This collaboration ensures that the account adheres to Islamic financial guidelines. 

Furthermore, the inclusion of features like DCA and Spot Grid trading bots aims to provide Muslim investors with advanced tools while maintaining compliance with Shariah principles. Bybit’s goal is to make cryptocurrency more accessible to Muslim communities, while also aligning with ethical financial practices.

Crypto Industry Adapts to Faith-Based Financial Needs

Consequently, this move represents a significant shift in the crypto industry, as more platforms begin catering to faith-based financial requirements. Bybit’s consultation with ZICO Shariah ensures that its offerings meet rigorous Islamic financial standards. 

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Hence, the platform’s focus on Shariah-compliant tokens is expected to appeal to both individual investors and institutions seeking to align their investments with Islamic principles. Bybit’s Islamic account signals a growing recognition of the need for ethical and compliant financial products in the rapidly expanding cryptocurrency market.