Stellar First DLT to Obtain Sharia Certification for Payments & Asset Tokenization
Today, we advance our mission of financial access and inclusion by obtaining a Sharia compliance certification for the Stellar technology and network. The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.
Stellar is the first distributed ledger protocol to receive Sharia compliance certification in the money transfer and asset tokenization space. Additionally, the Sharia compliance certification extends to applications and usages of lumens (XLM).
What does this certification mean for the Stellar ecosystem? In partnership with SRB, this certification will help grow the Stellar ecosystem in regions where financial services require compliance with Islamic financing principles. For example, Islamic financial institutions in the Gulf Cooperation Council (i.e. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) and parts of Southeast Asia (e.g. Indonesia and Malaysia) will now be able to integrate Stellar technology in their Sharia-compliant product and service offerings. This is a big advancement for the Stellar network given that these regions are endpoints of popular foreign worker remittance corridors.
https://www.stellar.org/blog/stellar-receives-sharia-compliance-certification-transfers-tokenization
Today, we advance our mission of financial access and inclusion by obtaining a Sharia compliance certification for the Stellar technology and network. The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.
Stellar is the first distributed ledger protocol to receive Sharia compliance certification in the money transfer and asset tokenization space. Additionally, the Sharia compliance certification extends to applications and usages of lumens (XLM).
What does this certification mean for the Stellar ecosystem? In partnership with SRB, this certification will help grow the Stellar ecosystem in regions where financial services require compliance with Islamic financing principles. For example, Islamic financial institutions in the Gulf Cooperation Council (i.e. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) and parts of Southeast Asia (e.g. Indonesia and Malaysia) will now be able to integrate Stellar technology in their Sharia-compliant product and service offerings. This is a big advancement for the Stellar network given that these regions are endpoints of popular foreign worker remittance corridors.
https://www.stellar.org/blog/stellar-receives-sharia-compliance-certification-transfers-tokenization
it's an amazing news and I will not miss this coin at this time. XLM will be considered as financial services in the cryptoworld and this is a good chance to hold many coins .
Yes, already Bitcoin price is kept going down and has chance to go down even lower and this is the right chance people who want to grab some lo valued stellar coins in the market. Once the Bitcoin price start increasing automatically the price of altcoin will starts increasing.
