Crypto for Muslims? Binance Introduces 'Sharia Earn'

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Binance Launches Sharia Earn: A New Era in Halal Crypto Investing

Binance, one of the world’s leading cryptocurrency exchanges, has taken a significant step forward by launching Sharia Earn, a groundbreaking multi-token staking service designed to align with the principles of Islamic finance. This initiative marks a pivotal moment in the evolution of digital finance, offering a halal investment option for millions of Muslims globally.

The launch of Sharia Earn follows Binance’s formal expansion into Dubai, where it introduced full retail and institutional services. This new product is part of Binance's broader mission to build a more inclusive financial future that respects diverse cultural and religious values.

A Game-Changing Product for the Muslim Community

In an official statement, Binance described Sharia Earn as "a game-changing product" that supports its vision of creating a fairer and more transparent financial system. The service has been certified by Amanie Advisors, a renowned Sharia advisory firm, ensuring that it meets the highest standards of religious compliance.

Sharia Earn will be available in over 30 countries, including Pakistan, Afghanistan, Egypt, Indonesia, Saudi Arabia, UAE, and others. This wide reach underscores Binance's commitment to making cryptocurrency accessible to a broader audience while respecting their faith-based principles.

CEO Richard Teng emphasized that the product is not just a financial tool but a movement toward a more principled and equitable digital economy. He stated, "This is more than a product—it's a movement toward a more principled and equitable digital economy that promotes financial freedom for all."

Addressing the Gap in Islamic Finance

The Islamic finance market is valued at over $4 trillion, yet many Muslims have been excluded from the decentralized finance (DeFi) movement due to concerns about religious compliance. Binance aims to bridge this gap by providing a transparent and values-driven way for the global Muslim community to earn passive income through cryptocurrency.

Sharia Earn allows users to stake multiple tokens, including Binance Coin (BNB), Ether (ETH), and Solana (SOL). The platform ensures that all funds are invested in ventures and assets that are considered halal under Islamic law. This approach aligns with key principles of Islamic finance, such as risk sharing, wealth circulation, and the prohibition of interest (riba) and excessive uncertainty (gharar).

Innovation Rooted in Cultural and Spiritual Values

This is Binance’s first foray into the Islamic finance sector, reflecting its dedication to innovation that respects cultural and spiritual values. The product is built on the existing technology of Binance Earn’s BNB Locked Products, ETH Staking, and SOL Staking. Each mechanism has been reviewed by Sharia scholars and deemed suitable for Islamic users through a purpose-fit Wakala agreement—a contract in which one party appoints another to act on their behalf for specific tasks.

By integrating traditional Islamic finance principles with modern blockchain technology, Binance is paving the way for a more inclusive and ethical financial ecosystem. The launch of Sharia Earn not only expands the reach of cryptocurrency but also empowers Muslim investors to participate in the digital economy in a manner that aligns with their beliefs.

As the crypto landscape continues to evolve, Binance's efforts to embrace diversity and inclusivity set a powerful example for the industry. With Sharia Earn, the exchange is not just introducing a new product—it is redefining what it means to be a global financial institution in the 21st century.