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Bybit Releases Shariah-Compliant Crypto Accounts to Draw in Muslim Investors

Bybit has opened a new Shariah-compliant crypto account for Muslim investors with capabilities including automated trading tools and spot trading of recognized coins. Following Islamic financial ideas, the application lets users invest without sacrificing their beliefs.

Bybit Reveals Crypto Accounts Designed for Faith-Based Investing Compliant for Shariah

Prominent bitcoin exchange Bybit has opened a Shariah-compliant crypto account providing fresh choices for Muslim investors wishing to participate in crypto trading while following Islamic banking guidelines. Made on September 24 by Bybit’s co-founder and CEO Ben Zhou, the announcement underlines the exchange’s dedication to offer faith-based financial solutions.

Along with automated trading tools including a dollar-cost averaging (DCA) bot and a spot grid bot, this devoted Islamic account lets users engage in spot trading with Shariah-approved tokens. Working with Zico Shariah, an advising business focused in Islamic finance and guarantees adherence to Islamic law, bit created these products.

Islamic Finance and Crypto: a Methodical Investment Strategy

Operating under Shariah’s rules, which forbid interest-based transactions and stress moral behavior, Islamic banking is Investors participate in the gains and losses of an investment instead of getting set returns, therefore promoting a more fair financial system.

In the context of cryptocurrencies, tokens must live by these values. Using a profit- and- loss-sharing structure, we create shariah-compliant crypto assets so that investors may start businesses free from violating religious rules. Before they are made public, a supervisory body validates and checks these tokens to be compliant with all required standards.

Bitwise Expansion and Regulatory Compliance

Shariah-compliant accounts introduced by Bybit follow its latest regulatory milestone in the United Arab Emirates. On September 16, the exchange obtained a temporary license from Dubai’s Virtual Asset Regulatory Authority (VARA), therefore enabling a major expansion of its activities in the area, where Islam is the most prevalent religion.

This new account offers Muslim investors a means to interact with the expanding cryptocurrency industry while adhering to their beliefs. The exchange intends to draw a larger audience as Bybit keeps extending its products, therefore presenting chances for ethical and religiously compatible crypto trading.

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