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Crypto.com collaborates with Dubai Islamic Bank to explore Islamic finance tokenization business
Deep Tide TechFlow News, on December 30th, Cryptocurrency exchange Crypto.com signed a Memorandum of Understanding with DIB, the largest Islamic bank in the United Arab Emirates. The two parties will cooperate in multiple areas. According to the protocol, DIB will promote the Crypto.com application and payment card through its channels, provide reward programs for DIB customers, and support Cryptocurrency payments through the DIB system.
The focus of this cooperation includes: exploring the tokenization of Islamic bonds (Sukuk) and real estate investment portfolios on the Cronos chain; integrating Crypto.com's custody, over-the-counter trading, and cryptocurrency trading technology solutions for DIB retail customers; supporting fiat currency recharge function for the Crypto.com application.
Mohammed Al Hakim, CEO of Crypto.com UAE, said the partnership will bridge the gap between Crypto Assets and Islamic banking, paving the way for the development of encryption solutions that comply with Islamic law.