Hassan Maishera
Bybit, a leading cryptocurrency exchange, has introduced Shariah-compliant crypto accounts specifically designed for Muslim investors. Announced on September 24, 2024, the new offering allows users to spot trade-approved tokens and access automated trading tools like dollar-cost averaging (DCA) and spot grid bots, all adhering to Islamic finance principles.
To ensure compliance with Shariah law, Bybit partnered with Malaysia-based advisory firm Zico Shariah, a specialist in Islamic finance. This collaboration allows Bybit to offer products that meet the ethical and religious requirements of Islamic law, avoiding interest-based transactions and ensuring transparency.
This launch comes shortly after Bybit received a provisional license from Dubai's Virtual Asset Regulatory Authority (VARA) on September 16, and was listed as a crypto asset provider by the Capital Markets Board of Turkey. This initiative reinforces its commitment to providing compliant financial services to diverse communities.
For more information on the features and services provided by the second-largest cryptocurrency exchange by daily trading volume, check out our full Bybit review.
