The Shariah-compliant cryptocurrency Islamic Coin has announced plans to launch a Reg D public token this month via Republic’s OpenDeal Broker for both centralized and decentralized exchanges. The cryptocurrency promises liquidity provision, staking opportunities, and token rewards during the liquidity mining phase.
What Is Islamic Coin?
Islamic Coin, also known as ISLM, was launched in 2021 and is a new player in the world of cryptocurrency. It is a native currency of HAQQ, a community-run network, dedicated to empowering an ethics-first Shariah-compliant financial ecosystem. The Haqq blockchain is built on the Cosmos SDK. ICNetwork Ltd is the developer of the HAQQ Blockchain. ICNetwork Ltd is a privately financed technological enterprise founded by a group of blockchain and fintech entrepreneurs. Its founders include Andrey Kuznetsov, Alex Malkov, Mohammed AlKaff AlHashmi and Hussein Mohammed Al Meeza.
Islamic Coin-Web3 Partnership
Islamic Coin had earlier partnered with Republic Crypto, the Web3 advisory branch of digital finance firm Republic. The team behind the crypto planned to refine their market approach, tokenomics, DAO governance, and long-term value strategies. Islamic Coin’s public token is currently scheduled for a September launch. The cryptocurrency’s team said that the token launch will mean that retail investors will be able to participate in what used to be a project financed exclusively by large venture capital funds.
Islamic Coin Funding
Islamic Coin has already raised over $400 million, including funding from Alpha Blue Ocean’s ABO Digital, DF101, Futurecraft Ventures, and Optic Capital. It’s other project partners include exclusive integration with DDCAP Group, and an agreement with Holiday Swap, one of the world’s largest home exchange platforms. As per the company, investment in Islamic Coin will be available to the public via liquidity staking, liquidity mining, and outright purchase of the token to benefit from its long-term appreciation.