X8 AG, a Switzerland-based blockchain technology company and creator of value preservation payment token X8X, has obtained the approval from Islamic scholars in order to be marketed as a Sharia-compliant digital currency. The certification will allow the business to expand in the Middle East as regulators and financial exchange in the region increasingly attempt to encourage innovation in the field of finance.
X8 Currency is a blockchain based digital currency with an artificial intelligence wealth value preservation solution. The startup uses AI to manage funds combining AAA grade fiat currencies and gold. Dedicated to preserve value and create price stability in order to prevent from the risk of currency devaluation, its automatic reserve management and AI-driven portfolios were able to obtain a certification for Sharia compliance by Shariyah Review Bureau.