Melbourne, Australia, August 30, 2021 – The world’s first halal DeFi ecosystem MRHB DeFi is partnering with leading Indian cryptocurrency trading platform Coinsbit to provide crypto asset opportunities and participation in India’s vast population of 200 million Muslims to further advance the blockchain economy.
MRHB DeFi’s vision of an integrative crypto verse follows Islamic ethical finance principles, but is suitable for those looking for a socially conscious blockchain that avoids interest, usury, exploitation and other business practices deemed unethical.
To be Halal means that MRHB DeFi operates within the highly ethical constraints of Sharia law, which by and large implies that all business decisions are made in connection with Islamic teachings that promote inclusion, access and belief, and are simple and transparent for the benefit of the Users work.
A visionary partnership for 200 million Muslims
India is home to 200 million Muslims who make up 10% of the world’s population and is the third largest Muslim community in the world. This group is often excluded from cryptoversum due to their belief-driven principles regarding financial and business conduct.
What this partnership means:
- Coinsbit would be the first Indian exchange to introduce a certified Sharia-compliant project to the Muslim community. During the launch, MRHB will conduct an initial exchange offering (IEO) on the Coinsbit Exchange and introduce the blockchain’s native token, $ MHB (Marhaba Token), to the global community
- Coinsbit is headquartered in Hyderabad, which is geographically close to the large metropolitan area of Hyderabad and Bangalore, which has a sizeable Muslim population
- MRHB DeFi will integrate Coinsbit’s portal into its app (Sahal Wallet) so that users can use Coinsbit directly to trade crypto assets.
- Coinsbit will provide users with a trading platform where $ MHB (Marhaba Token) will be available to the Indian community
- MRHB DeFi would also lead marketing activities for the exchange in the fast growing Australian market
- Both partners will benefit significantly from each other’s marketing and community growth activities
A common mission for an integrative cryptoversum
“Blockchain and DeFi gained popularity in 2021, and we predict that stratospheric growth will continue. For this reason, we are excited to partner with one of India’s leading cryptocurrency exchanges to offer MRHB DeFi products and services to anyone in the Indian subcontinent who is looking for a real, ethical alternative to the existing platforms in the cryptoversum, ”says Naquib Mohammed , Founder and CEO of MRHB DeFi.
“Blockchain offers amazing potential for all communities. Our goal is to make this potential available to those who have previously had difficulty accessing DeFi products and services or have been cautious in using DeFi products and services. We also hope to give them all of the abundant growth, expansion and development opportunities that DeFi offers, ”added Naquib.
“We are very happy to start this joint trip with MRHB. Islamic DeFi and Sharia-based crypto financial products are an area of exceptional growth and potential for India. We are committed to delivering the visionary range of MRHB DeFi services and products to our customers across our continent, ”said Ravneet Kaur, CEO of Coinsbit India.
She continues: “The time has come for a blockchain project that is based on the principles of belief, inclusion and access for all, while being transparent and easy to use. MRHB DeFi has shown us that they are committed to a long-term vision for ethical people around the world, regardless of their beliefs. “
Asian countries outperform the rest of the world in cryptocurrency adoption, and India ranks second in the global cryptocurrency adoption index, according to the blockchain data platform Chainalysis’ 2021 Global Crypto Adoption Index. Indians have invested more than five times last year and the momentum is encouraging.
The acceptance of cryptocurrencies in India is increasing and the Indian exchanges WazirX, CoinDCX and Coinswitch Kuber doubled their user base between January and March 2021.
Coinsbit India recently started operations and has already caught the market’s attention by adding a million users in about three months.
About MRHB DeFi
MRHB DeFi is a halal, decentralized financial platform that embodies the true spirit of “ethical and inclusive DeFi” by following belief-based financial and business principles where all excluded communities can benefit from the full empowerment potential of DeFi.
Based on the principles of the blockchain such as trust, transparency and security, MRHB DeFi has encapsulated universally applicable principles of Sharia law in these principles of the blockchain to provide a range of offerings. It is a complete DeFi ecosystem whose products, protocols and crypto-assets are primarily subject to the ethical, integrative, sustainable and charitable investment principles associated with the Islamic faith or “Islamic Finance” (“IF” as it is generally known) are connected.
The diverse team is made up of researchers, technocrats, influencers, Islamic fintech experts and entrepreneurs who have come together to ensure that MRHB DeFi prevails in a way that impacts society as a whole and essentially bridges the gap between faith-conscious communities bridged and the blockchain world.
Read more about the Shariah Concept Paper, Lite and White Paper from MRHB DeFi here.
Official MRHB DeFi channels
Telegram announcements: https://t.me/marhabadefi_ANN
About Coinsbit India
Since its inception in 2017, Coinsbit has been one of the most trusted exchange platforms for cryptocurrency traders from around the world. Coinsbit India aims to become the leading trading platform for the Indian market which is just beginning to see the potential of cryptocurrencies. It always works according to the guidelines of the Indian government. Coinsbit India strives to provide a service, reliability and convenience that cannot be matched by any other platform and is proud to represent India as one of the world’s largest cryptocurrency exchanges.
Official channels of Coinsbit India