MRHB DeFi and crypto exchange platform Coinsbit are partnering to bring a halal DeFi ecosystem for Muslims living in India.
Marhaba Decentralized Finance Platform (MDFP) was built to become a bridge between blockchain technology, crypto, and the Muslim community. The firm implements smart contracts through technical expertise but also keeping in consideration the principles of Islamic trade.
“Blockchain offers amazing potential for all communities. We aim to deliver this potential to those who may have previously struggled to access or been cautious to use DeFi products and services. We also hope to provide them with all of the rich opportunities for growth, expansion, and development that DeFi offers.”Naquib Mohammed
India has an estimated Muslim population of 200 million people, and they are very little included in the cryptocurrency industry and blockchain economy. Coinsbit and MRHB are trying to change that by implementing the Shariah law.
For something to be halal, it must be inclusive, accessible, and transparent so users can benefit from it.
“We’re excited about embarking on this shared journey with MRHB. Islamic DeFi and Shariah-based crypto financial products are an area of extraordinary growth and potential for India. We’re committed to delivering MRHB DeFi’s visionary range of services and products to our clients across our continent.”Ravneet Kaur
Marhaba will start with an initial exchange offering (IEO) on the Coinsbit platform, and it will introduce the blockchain’s native token, $MHB (Marhaba Token), to the public. Coinsbit’s portal will be integrated with the MRHB DeFi application, the Sahal Wallet. Both companies will complete each others lackings.
“Blockchain and DeFi have exploded in popularity in 2021, and we forecast this stratospheric growth to continue. That’s why we’re excited to be teaming up with one of India’s premier cryptocurrency exchanges to offer MRHB DeFi products and services to everyone across the Indian subcontinent who are looking for a true, ethical alternative to the existing platforms in the cryptoverse.”Naquib Mohammed