MRHB.Network, the world’s first halal DeFi platform, has listed their $MRHB token on the Bitlocus cryptocurrency exchange with a EUR trading pair. This marks MRHB DeFi’s European market entry and the first time that crypto users can purchase MRHB directly with fiat.
MRHB is now listed on four decentralized exchanges, including Bitlocus, BitMart, LBank and CoinTiger. It also has three trading pairs on the decentralized exchange PancakeSwap.
“We are very proud to list MRHB on Bitlocus and finally offer our 70,000 supporters the ability to trade MRHB with fiat. This marks a crucial milestone for our platform, removing a major obstacle to procuring crypto. With a fiat onramp in place, MRHB DeFi is now able to onboard more users by offering a more convenient, user-friendly way to trade our token,” said Umut David Gulasi, Network CMO of MRHB DeFi Network.
The Bitlocus listing was a long time in coming, with the exchange being one of the earliest supporters of the MRHB DeFi project. It also marks the start of an even longer partnership between the two companies, with Bitlocus assisting MRHB DeFi’s European expansion through various affiliated sister organizations.
“We are pleased to list the MRHB token and support this highly respectable project. MRHB DeFi Network is taking great strides to support underrepresented communities with ethical DeFi solutions that make the cryptocurrency industry safer and fairer,” said Bitlocus CEO Andrius Normantas.
Founded in 2018 and based in Lithuania, Bitlocus operates under EU regulation — one of the strictest and most trustworthy regulatory spaces in the world. A fiat on/off-ramp and EUR spot trading with over 16 tokens is available on their exchange.
MRHB DeFi Network is building an extensive platform for communities who previously didn’t have access to crypto, including 1.8 billion Muslims representing a US$3 trillion (approximate) Islamic Finance market. To make their DeFi protocol permissible under Islamic law, MRHB DeFi has every single token, product and service on their platform go through a very strict halal compliance vetting procedure, judged based on ethical merit.
DeFi With a Focus on Simplicity and Transparency
The platform features an ecosystem portal in the form of Sahal Wallet, a self-custodial wallet that only accepts halal tokens. Sahal Wallet is available as a mobile application on Android and iOS.
“Sahal Wallet features a very user-friendly interface — this is important, as most of our users are first-time crypto investors,” said Naquib Mohammed, CEO of MRHB DeFi. “The wallet is a key to our one-stop ecosystem where users can rest easy that everything is halal.”
The MRHB token was listed in December 2021, raising more than US$5.5 million in an oversubscribed IDO. Since then, the company has launched Sahal Wallet and SouqNFT, an ethical NFT market hub. SouqNFT also hosts NFT-based halal compliance certificates issued by third-party Shariah Experts.
Future launches slated for 2022 include a tokenized commodity exchange, a halal liquidity harvester and a halal DeFi staking solution. A reversible transaction upgrade is also coming to Sahal Wallet.
Next year will see further ambitious launches on the MRHB DeFi platform, including decentralized philanthropy (DePhi), interest-free crypto financing, a startup launchpad and decentralized autonomous governance.
About MRHB.Network
MRHB.Network is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.
The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.
About Bitlocus
Bitlocus is a global financial technology company that operates the Bitlocus cryptocurrency exchange. The main mission of Bitlocus is to bring fiat and cryptocurrencies together via features such as fiat-to-crypto exchange, fiat-friendly gateway to DeFi protocols, payment cards, crypto payments processing, liquidity, and other services for business and retail clients. For more information please visit https://bitlocus.com/.
