Bybit introduces the pioneering Islamic cryptocurrency account globally

Bybit, the world’s second-largest cryptocurrency exchange in terms of trading volume, has recently unveiled its Islamic Account, making it the first global exchange to offer crypto-trading services that comply with Islamic law. This move caters specifically to Muslim traders by providing them with a platform that meets both their investing and religious needs.

With the launch of the Islamic Account, Bybit proudly announces the first-ever Crypto Islamic account for all Muslim traders out there. This account gives users access to a range of Shariah-compliant trading products, ensuring that Muslim investors can engage in trading while adhering to their religious principles.

Bybit has collaborated with ZICO Shariah Advisory Services Sdn. Bhd. (ZICO Shariah) and CryptoHalal to ensure that its offerings comply with the principles of Islamic finance. Through this partnership, users can now access various features designed for global Muslim traders, with the exception of regions with specific legal restrictions.

The initial offerings of the Islamic Account primarily focus on spot trading, providing access to 75 Shariah-compliant tokens and automated trading tools such as the DCA and Spot Grid Bots. Bybit has obtained two Shariah certifications from CryptoHalal and ZICO Holdings, guaranteeing that all products meet the standards of Islamic law.

The Islamic economy, serving nearly 1.9 billion people worldwide, continues to experience rapid growth. Valued at approximately $2.3 trillion, the Islamic finance sector is primarily driven by the Middle East, Africa, and South Asia. Bybit’s introduction of the Shariah-compliant account allows the platform to tap into this expanding market and offer Muslim traders a secure way to engage with the cryptocurrency space.

Joan Han, Bybit’s Sales & Marketing Director, expressed enthusiasm for the launch, emphasizing the company’s commitment to providing inclusive and accessible trading solutions. Through partnerships with Crypto Halal and ZICO Holdings, Bybit ensures that its offerings align with the principles of Islamic finance, empowering Muslim traders to participate in the growing cryptocurrency market.

By introducing the Islamic Account, Bybit demonstrates its dedication to promoting diversity and inclusivity within the crypto space.