Marhaba Network (MRHB DeFi) is keeping busy raising funds, listing its token and preparing to roll out a new product.
The Shariah compliant decentralized finance platform began trading its utility tokens today on the global digital asset trading platform LBank Exchange. This follows a series of successful funding rounds – private and public – which attracted US$5.5 million. The Halal blockchain firm said these funding rounds culminated in an initial DEX offering (IDO) which was oversubscribed on the DODO and ZeeDO launchpads. Prior to the IDO, MRHB DeFi conducted two public sales.
“Our funding rounds have surpassed our expectations and prove beyond doubt the huge demand for ethics in the cryptoverse,” said MRHB DeFi CEO Naquib Mohammed, who added: “These are just the first steps of our ambitious multi-year journey that we have begun, together with our community, to ensure that everyone can participate in building an ecosystem where trust and values matter – hence giving access to the growing opportunities of the crypto economy.”
The platform’s $MRHB token is also available for trades on PancakeSwap.
It is also learned that the Australian start-up will be launching its Sahal Wallet on the 22nd February 2022. Sahal Wallet is a non-custodial mobile wallet featuring filtering technology allowing access to Halal tokens. Having recently launched its Souq NFT Marketplace, MRHB DeFi’s development roadmap includes rolling out Liquidity Harvester, a passive and stable crypto income product in the second quarter. It is understood that MRHB DeFi is in “advanced discussions” with regulated institutional partners to offer Halal crypto wealth products under the Liquidity Harvester project. Last December, the firm partnered with crypto firm Masary Capital to provide Shariah compliant and ethical retail and institutional opportunities to the UAE market.