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Bybit Launches Shariah-Compliant Crypto Accounts for Muslim
Bybit, a cryptocurrency exchange, has launched new crypto products that follow Islamic finance rules or Shariah,
Bybit's Shariah-Compliant Crypto Accounts
Bybit’s Shariah-Compliant Crypto Accounts, Source: Twitter
On September 24, 2024, co-founder and CEO Ben Zhou announced the creation of a dedicated Islamic account, which would allow users to spot trade Shariah-compliant tokens, automated trading tools like a dollar-cost averaging (DCA) bot, and a spot grid bot.
These tools are specifically designed to allow users to invest in a manner that adheres to the ethical and religious requirements of Islamic law.
To assure compliance, Bybit worked with Zico Shariah, a Malaysia-based advising company that specializes in Islamic finance. According to Bybit, this partnership has allowed them to develop products that meet the stringent requirements of Shariah law, which governs permissible investments and trading practices for Muslims. 0 reply
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