Crypto.com is taking another leap forward in its mission to bridge traditional banking and cryptocurrency. The exchange has signed a memorandum of understanding (MoU) with Dubai Islamic Bank (DIB), marking a significant step in integrating crypto into the Islamic finance ecosystem across the UAE and the Gulf Cooperation Council (GCC).
Dubai Islamic Bank, a pioneer in Sharia-compliant banking, views this collaboration as a gateway to innovation. Musabbah Al Qaizi, DIB’s Chief Digital Officer, expressed enthusiasm, stating:
“This partnership with Crypto.com signifies a transformative milestone for Dubai Islamic Bank as we embrace the forefront of technological advancement in Islamic finance.”
The partnership will explore new horizons, such as tokenized Islamic sukuks and the tokenization of real-world assets, all while adhering to Sharia principles.
- Crypto.com App and Card Promotion: The partnership will leverage DIB’s extensive customer base to promote the Crypto.com App and its prepaid card.
- Reward-Based Campaigns: Exclusive reward programs will be introduced for DIB customers.
- Crypto Payments Integration: Customers will soon be able to make cryptocurrency payments through DIB’s systems.
- Fiat Funding Enhancements: The collaboration also supports fiat currency funding on the Crypto.com app for seamless transactions.
