Stellar has been deemed “halal” by Islamic scholars for its blockchain platform and related cryptocurrency.

Shariah is the Islamic law based on the teachings of the Quran. Gaining Shariah certification will allow Islamic financial institutions and investors to use the Stellar platform and its cryptocurrency (XLM) for such things as cross-border payments. XLM is the sixth-largest cryptocurrency by market cap, according to CoinMarketCap.

Having the certification will make it easier for Stellar to forge relationships with financial services in strong growth areas in the Middle East and Southeast Asia, both of which have large Islamic populations. Read more here.

ThirtyK Staff
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