Bybit Introduces Islamic Account, Enhancing Crypto Trading Access for Muslim Communities Globally

Dubai, United Arab Emirates, September 24th, 2024 – Bybit, the second-largest cryptocurrency exchange globally by trading volume, has unveiled its Islamic Account, becoming the first global cryptocurrency exchange to offer such a service for Muslim traders. This significant move aims to make crypto trading more accessible while ensuring adherence to Islamic law.

The Islamic Account from Bybit features a variety of Shariah-compliant trading products, allowing Muslim traders to participate in the digital asset market with confidence. The account was developed in collaboration with ZICO Shariah Advisory Services Sdn. Bhd. and CryptoHalal, ensuring that every product aligns with Shariah principles.

Key Features of Bybit’s Islamic Account:

• Global Accessibility: The account is available to all users worldwide, with the exception of locations that impose legal restrictions.
• Shariah-Compliant Offerings: The initial offerings include spot trading, featuring a selection of 75 Shariah-compliant tokens, alongside a DCA trading bot and Spot Grid Bot.
• Double Shariah Certification: The account boasts both Crypto Halal Certification and an official Shariah certification from ZICO Holdings, confirming that all products meet rigorous Islamic law standards.

The Islamic economy serves around 1.9 billion people globally, and the Islamic finance sector is currently valued at approximately $2.3 trillion. The growth potential in the Middle East, Africa, and South Asia (MEASA) regions is significant. Bybit’s introduction of a Shariah-compliant trading platform aims to provide Muslim traders with a reliable and trustworthy solution in this expanding sector.

"We are excited to launch our Islamic Account, marking a key development in our mission to offer inclusive and accessible trading options," stated Joan Han, Sales & Marketing Director at Bybit. "By collaborating with Crypto Halal and ZICO Holdings, we have ensured our products align with Islamic finance principles, enabling Muslim traders to engage in the evolving cryptocurrency market."

Bybit’s Islamic Account reflects the exchange’s ongoing commitment to diversity and inclusivity. By creating a Shariah-compliant trading environment, Bybit seeks to eliminate barriers and generate fresh opportunities for Muslim traders everywhere.