Islamic Coin, HAQQ Association and DDCAP Group have entered an MoU to explore potential collaboration opportunities leveraging on HAQQ’s digital asset platforms on the HAQQ Blockchain and DDCAP’s Shariah compliant ETHOS AFP platform.
The collaboration will see both parties focusing on building industry grade systems and cater to market demand for ethics-first, Shariah compliant infrastructure.
Islamic Coin, which is slated to launch its Shariah compliant token to the public in May, is the native coin of the HAQQ Blockchain which will host Islamic finance solutions including a Shariah compliant Web3 alternative to SWIFT, central bank digital currencies and tokenization. DDCAP is a provider of Shariah compliant asset facilitation services, financial technology and system solutions.
“Actively supporting SDGs, both sides appreciate the similarities between the improvements sustainable development is aiming to achieve and the principles of Shariah finance, that focus on fairer, better money,” shared Mohammed AlKaff AlHashmi, the co-founder of Islamic Coin and a member of HAQQ Association.
Stella Cox, the managing director of DDCAP, said the alliance will explore blockchain-based Islamic finance initiatives in line with its own sustainable action programs in support of the UN SDGs.
HAQQ and Islamic Coin raised US$200 million last July through private sales. Last month, it launched a US$40 million fund to support Shariah compliant ventures on the HAQQ Blockchain.