Dubai's Onegram Enlists Islamic Cryptocurrency on Its Virtual Exchange
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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)
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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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