HAQQ, the Islamic blockchain solutions provider behind Islamic Coin, has partnered with Brighty App, a mobile money platform integrating traditional finance and cryptocurrency to expand its European reach.
Brighty, regulated in the EU, the UK and Switzerland through its corporate entities, is active in Europe providing services such as IBAN Accounts, crypto wallets, instant currency exchange and linked cards. Launched in 2021, the app became a member of member of VQF, a self-regulatory organization recognized by the Swiss Financial Market Supervisory Authority.
“As part of this partnership, Brighty App will leverage HAQQ’s ethical and Shariah compliant blockchain technology to extend its reach into the Islamic finance market, offering its unique blend of traditional and crypto financial services to a broader audience,” according to a joint statement.
The app also expects to add accounts in Islamic Coin, the native currency of HAQQ Network, and possibly introduce staking mechanics through this collaboration. This means, Brighty users will be able to hold, send and transact in Shariah compliant cryptocurrencies as well as participate in staking, providing them with a new avenue for potential earnings within an ethical finance framework.
For HAQQ, which has been on an aggressive expansion spree since its launch last year, this collaboration allows it to leverage on Brighty’s established infrastructure and user base in Europe.
Islamic Coin earlier this month raised US$200 million, doubling its total funding, allowing it to extend its runway.