- IOTA token receives Shari’a compliance certification, enhancing its appeal to Islamic investors.
- The certification facilitates new partnership opportunities in the Middle East and Southeast Asia.
- Shari’a compliance ensures continuous oversight, reducing legal risks and boosting investor confidence.
IOTA, an open-source distributed ledger technology (DLT) for Web3 apps and digital economies, has announced that its coin is now Shari’a-compliant.
This certification from the Cambridge Institute of Islamic Finance recognizes that the IOTA token adheres to all acceptable Shari’a principles and guidelines, including those used in the Islamic financial services business.
The IOTA Ecosystem DLT Foundation comes as the leader of digital integration in the MENA area, having been established as the first foundation under the DLT Foundations Regulations of the Abu Dhabi Global Market (ADGM).
Ensuring Shari’a Compliance
With its development into the UAE, the IOTA Foundation realized the need to integrate its processes, and offerings with Shari’a laws. This system of Islamic principles and rules, based on the Qur’an and Hadith, governs the moral, social, and legal aspects of Muslim life.
Achieving Shari’a compliance attracts more investors, increasing the liquidity and stability of the IOTA token. It opens up new partnership options in the Middle East and Southeast Asia, opening the path for blockchain projects in the IOTA ecosystem.
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Increasing Investment and Opportunities.
The combination of Shari’a compliance and the ADGM’s advanced regulatory structure makes the IOTA coin an appealing choice for Islamic investors. Projects such as halal meat verification for fast food restaurants and Islamic banking and insurance (Takaful) projects can now benefit from IOTA’s Shari’a compliance.
Future Prospects for the Financial Sector
The Cambridge Institute of Islamic Finance’s certification not only strengthens the IOTA Ecosystem DLT Foundation’s reputation and ethical standards, but it also promotes IOTA technology and the IOTA coin in Muslim communities.
The Shari’a compliance certification is a big step forward for IOTA, attracting new investors and partnerships, particularly in places where adherence to Islamic law is necessary. This update will improve the IOTA token’s credibility and create new opportunities for blockchain applications that require Shari’a-compliant foundations.
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