According to a report from Deep Tide TechFlow, on December 30, cryptocurrency exchange Crypto.com signed a memorandum of understanding with DIB, the largest Islamic bank in the UAE, to cooperate in multiple areas. Under the agreement, DIB will promote the Crypto.com application and payment card through its channels and provide a rewards program for DIB customers while supporting 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, OTC trading, and cryptocurrency trading technology solutions for DIB retail customers; and supporting the fiat recharge features of the Crypto.com application.
Mohammed Al Hakim, President of Crypto.com UAE operations, stated that this collaboration will build a bridge between cryptocurrency and Islamic banking, paving the way for the development of Sharia-compliant cryptocurrency solutions.