Australian Halal decentralized finance (DeFi) platform, Marhaba (MRHB), has partnered with crypto firm Masary Capital to provide Shariah compliant and ethical retail and institutional opportunities for the UAE market.
Masary Capital, which has invested into MRHB DeFi, will be powering its Masary Islamic product range with MRHB DeFi’s solutions. MRHB DeFi will provide an ecosystem of eight DeFi products for distribution through Masary Capital’s retail platform to facilitate crypto payments, investments, services and global remittance facilities. Masary Capital joins the likes of Sheesha Finance, Blockchain Australia, Mozaic, Contango Digital Assets, NewTribe Capital, Acreditus Partners, EMGS Group, Sinofy Group, Australian Gulf Capital and MKD Capital as MRHB DeFi investors.
“This partnership will drive both retail and crucial institutional growth in the region and support our vision of providing DeFi to over 1 billion people who find themselves excluded from the cryptosphere due to faith, lack of access and complexity,” explained MRHB DeFi CEO Naquib Mohammed.
Approximately 90% of the 1,000 members who participated in MRHB’s two public pre-launch token sales were first-time cryptocurrency investors across the globe – including non-Muslims with a strong interest in a more ethical approach to crypto opportunities.