Swiss AI-Powered Stablecoin Becomes Halal to Attract Muslim Investors14.87

Sharia-compliance finance is becoming a field of choice for several fintech companies as regulators and market participants in the Middle East seem keen on attracting new business. Now, Swiss-based cryptocurrency firm X8 has become the latest to acquire an Islamic finance certification.

X8 AG, a cryptocurrency and fintech startup based in Switzerland, has managed to obtain a certification for its digital currency from the Shariyah Review Bureau (SRB) – an Islamic advisory firm which is fully licensed by the central bank of Bahrain, Reuters reports. The move is supposedly part of its plans to expand towards the Middle East.

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