Optic Capital backs Sharia-compliant crypto Islamic Coin

• Islamic Coin is a Sharia-compliant digital cash mission powered by the HAQQ blockchain.
• Optic Capital has made an funding of undisclosed quantity within the mission, whose ISLM token launches on September 1.

Islamic Coin, the Shariah-compliant cryptocurrency, has secured funding from Web3 enterprise agency Optic Capital. The funding options an undisclosed quantity, the Switzerland-based crypto mission revealed through a press launch completely shared with CoinJournal.

Optic Capital has invested in main crypto initiatives, together with Polkadot, Chainlink and Compound.

Islamic Coin (ISLM) is the native token of HAQQ, the ethics-first L1 blockchain devoted to making a Shariah-compliant monetary ecosystem. The crypto mission was co-founded by UAE entrepreneurs Mohammed AlKaff AlHashmi and Hussein Al Meeza, and is gearing up for its official launch on September 1, 2023.

Islamic Coin attracts international VCs

With consideration in the direction of the platform rising quickly since its inception, a lot of the highlights have been on key partnerships and strategic investments. A rising listing of VCs and personal capital proceed to again it, largely because of what it might obtain by way of international adoption.

Optic Capital’s funding provides to this group of main enterprise capital companies and personal funds which have backed the cryptocurrency.

 “Islamic Cash’ distinctive product market match develops a path for a neighborhood of greater than 1 billion potential new blockchain customers. The mission is extremely differentiated, exhausting to repeat, and elegantly solves a fancy adoption drawback. As soon as we understood the potential dynamics at play, for us, it appeared like an apparent platform to again”, mentioned Optic Capital Managing Accomplice.

In July, Islamic Coin workforce introduced it had raised $200 million from traders to deliver its groundbreaking funding to $400 million. Funding members now embrace Alpha Blue Ocean’s ABO Digital, DF101, and Futurecraft Ventures. The mission has additionally attracted funding from a number of high-net value people (HNWIs).

Other than funding, Islamic Coin has struck key partnerships throughout the globe. They embrace the not too long ago introduced integration with DDCAP Group, Vacation Swap and over 300 Islamic Banks. Within the MENA area, the mission has lined up 5 partnerships throughout Medical, Wellness, Immigration and the Journey sectors.

Islamic Coin and HAQQ are additionally set to be Web3 and innovation companions of a number of firms related to Dubai’s ruling household.

Particulars on the HAQQ website additionally reveals the community has built-in with Axelar, Sushi and Allnodes amongst different platforms.