Islamic Coin is the native currency of the blockchain operated by the Haqq community and is dedicated to empowering an ethics-first Sharia-compliant financial ecosystem. Its mission is to provide the world’s Muslim community with a financial tool for the digital age that will enable seamless transactions and interaction while supporting innovation and philanthropy.
Haqq community’s blockchain network is on the radar of venture capitalists Islamic Coin, whose total supply is limited, meets all the criteria of a halal asset. 10% of each issuance is deposited into the Evergreen DAO for further investment in Islam-related initiatives or donated to Muslim charities, bringing direct economic value to society.
In June 2022, the currency received a Fatwa issued by the world’s leading Muslim authorities. Then in August, Islamic Coin broke the record for the entire year by raising $200 million during a private sale. In November 2022, Islamic Coin won the Most Promising ESG Crypto award at the Middle East Blockchain Awards.
Islamic Coin focuses on sustainability, ethics and transparency. Wallet information is openly accessible via gnosis-safe.io. On the other hand, Islamic Coin announced that it is working with Republic Crypto, the web3 consultancy group within the global digital finance leader Republic.
According to the statement made last August, the collaboration provides comprehensive work to promote Islamic Coin’s go-to-market strategy, while also including consultancy services focusing on tokenomics, DAO governance and long-term economic benefit value.
Republic Crypto will also help communicate with potential strategic partners, exchanges and market makers. Additionally, Islamic Coin plans to conduct a Reg D public token offering facilitated by OpenDeal Broker on Republic’s retail investment platform in September 2023. Following the IPO, Islamic Coin’s international community will benefit from a variety of benefits, including options to offer liquidity, stake their assets, and earn tokens during the liquidity mining phase.
While interest in the platform has increased rapidly since its establishment, most of the highlights have been key partnerships and strategic investments. A growing list of venture capital and private equity continues to back it, largely because of what it can achieve in terms of global adoption.
Optic Capital investment
Optic Capital’s investment adds to this large group of venture capital firms and private funds backing cryptocurrency. Commenting on the subject, Optic Capital Managing Partner said, “Islamic Coin’s unique product-market fit is developing a path for a community of more than 1 billion potential new blockchain users.
The project is highly differentiated, difficult to replicate, and elegantly solves a complex adoption problem. “Once we understood the potential dynamics at play, it seemed like an obvious platform for us to support,” he said. In July, the Islamic Coin team announced that it had raised $200 million from investors to bring its groundbreaking financing to $400 million. Funding participants include Alpha Blue Ocean’s ABO Digital, DF101 and Futurecraft Ventures. The project also received funding from several high-net-worth individuals (HNWIs).
In addition to financing, Islamic Coin has signed important partnerships around the world. These include the recently announced integration with DDCAP Group, Holiday Swap and more than 300 Islamic Banks. In the MENA region, the project has established five partnerships in the medical, health, immigration and tourism sectors. Islamic Coin and HAQQ will also be innovation partners for Web3 and multiple industries.