According to CoinDesk, Islamic Coin has signed a memorandum of understanding with CoinDesk Indices to explore the creation of Shariah-compliant crypto benchmarks for the Middle East and North Africa markets. The partnership also aims to license various CoinDesk Indices benchmarks for exchange-traded financial products. Additionally, HAQQ, a blockchain focused on developing a Shariah-compliant financial system and the home of Islamic Coin, will gain access to CDI's API for selected digital assets, including its digital asset exchange.
Mohammed AlKaff AlHashmi, founder of Islamic Coin, stated that with the global Islamic finance market expected to exceed $3.69 trillion by 2024, this collaboration has the potential to transform the landscape of Shariah-compliant digital financial services. CoinDesk Indices is a subsidiary of CoinDesk.