According to Deep Tide TechFlow news, on December 30, cryptocurrency exchange Crypto.com signed a memorandum of understanding with DIB, the largest Islamic bank in the UAE, to collaborate in multiple areas. Under the agreement, DIB will promote the Crypto.com application and payment card through its channels, provide reward programs for DIB customers, and support cryptocurrency payments through the DIB system.
The focus of this collaboration includes: exploring the tokenization of Islamic bonds (Sukuk) and real estate portfolios on the Cronos chain; integrating Crypto.com's custody, over-the-counter trading, and cryptocurrency trading technology solutions for DIB retail customers; supporting the fiat recharge function of the Crypto.com application.
Mohammed Al Hakim, President of Crypto.com UAE Operations, stated that this collaboration will bridge the gap between cryptocurrency and Islamic banking, paving the way for the development of cryptocurrency solutions that comply with Islamic law.