Dubai's Onegram Enlists Islamic Cryptocurrency on Its Virtual Exchange

Published September 20th, 2018 - 07:49 GMT
The coins are listed on the firm’s exchange, Huulk, and future listings will focus on regional exchanges in Asia and the Middle East. (Shutterstock)
The coins are listed on the firm’s exchange, Huulk, and future listings will focus on regional exchanges in Asia and the Middle East. (Shutterstock)

Dubai’s OneGram Group has listed a cryptocurrency it bills as Shari’ah-compliant on the company’s virtual exchange and is planning additional listings in coming months.

The firm said that its cryptocurrency is Shari’ah-compliant as each OneGram unit is backed by physical gold stored in a vault, a feature that aims to address speculation and price volatility.

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Ibrahim Mohammed, OneGram’s CEO, said that the tokens are now paired for trading against Bitcoin and the company plans to add pairings to several hard currencies, reported Reuters.


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