• Bybit launched the world’s first Shariah-compliant crypto Islamic account with 75 approved tokens for spot trading.
  • Bybit consulted ZICO Shariah, a licensed advisory firm, to ensure Islamic financial compliance.
  • The account includes DCA and Spot Grid trading bots for ethical, advanced crypto trading options.

Bybit has announced the launch of the world’s first crypto Islamic account, designed to comply with Shariah principles. This new offering targets the growing demand for ethical and faith-based financial solutions within the crypto sector. 

According to Bybit, the account provides users with access to a range of features, including spot trading, DCA trading bots, and Spot Grid Bots. The platform will offer 75 Shariah-compliant tokens for spot trading initially. 

Bybit said it launched the World's first Crypto Islamic account. Shariah-Compliant and Initial offerings include spot trading (limited to 75 Shariah-compliant tokens), DCA trading bot, and Spot Grid Bot. Bybit has consulted ZICO Shariah, a licensed Shariah advisory and consulting…

— Wu Blockchain (@WuBlockchain) September 24, 2024

Shariah-Compliant Features Aim to Meet Growing Demand

Notably, the creation of the crypto Islamic account followed consultations with ZICO Shariah, a licensed advisory and consulting firm based in Kuala Lumpur, Malaysia. This collaboration ensures that the account adheres to Islamic financial guidelines. 

Furthermore, the inclusion of features like DCA and Spot Grid trading bots aims to provide Muslim investors with advanced tools while maintaining compliance with Shariah principles. Bybit’s goal is to make cryptocurrency more accessible to Muslim communities, while also aligning with ethical financial practices.

Read CRYPTONEWSLAND on google news

Crypto Industry Adapts to Faith-Based Financial Needs

Consequently, this move represents a significant shift in the crypto industry, as more platforms begin catering to faith-based financial requirements. Bybit’s consultation with ZICO Shariah ensures that its offerings meet rigorous Islamic financial standards. 

Hence, the platform’s focus on Shariah-compliant tokens is expected to appeal to both individual investors and institutions seeking to align their investments with Islamic principles. Bybit’s Islamic account signals a growing recognition of the need for ethical and compliant financial products in the rapidly expanding cryptocurrency market. 

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.