Crypto.com, a leading cryptocurrency exchange, and Dubai Islamic Bank (DIB), one of the largest Islamic banks in the world, have signed a Memorandum of Understanding (MoU) to explore a range of innovative payment solutions and services. The partnership will focus particularly on Sharia-compliant financial products, such as tokenized Islamic Sukuks and real-world asset tokenization.
The MoU was signed by Crypto.com’s President of UAE Operations, Mr. Mohammed Al Hakim, and DIB’s Chief Digital Officer, Mr. Musabbah Al Qaizi. The agreement highlights several areas of potential collaboration, including:
- Promoting the Crypto.com App and Card through DIB’s channels
- Offering reward-based campaigns for DIB’s customers
- Enabling cryptocurrency payments via DIB’s systems
- Facilitating fiat currency funding on the Crypto.com App
One of the most exciting aspects of the collaboration is the exploration of tokenizing real-world assets, including Islamic Sukuks and real estate portfolios, using the Cronos blockchain. Both companies also plan to integrate Crypto.com’s advanced technology solutions, such as custody, OTC trade execution, and crypto trading, for DIB’s retail clients.
Crypto.com Supports Rebranding of Mines of Dalarnia Token
In a separate announcement, Crypto.com is supporting the rebranding of the Mines of Dalarnia ($DAR) token to Dar Open Network ($D). As part of this transition, the $DAR token will be delisted from both the Crypto.com App and Exchange. The rebranded token, $D, will replace $DAR, with all trading, deposits, and withdrawals of the old token being permanently suspended starting January 6th.
December 2024, Cryptoniteuae
