MRHB Network, the first decentralized finance (DeFi) platform in the world to provide only halal crypto products, listed its $MRHB token on the BitMart cryptocurrency exchange on March 10 with a MRHB/USDT trading pair. This listing makes BitMart the second centralized exchange (CEX) to offer the MRHB token, along with LBank Global Exchange. The token is also available on the leading decentralized exchange (DEX), PancakeSwap.
To promote the listing and provide a boost to awareness, token liquidity and trading, MRHB DeFi and BitMart are teaming up on a number of marketing promotions with a variety of incentives on offer.
“We pride ourselves on offering as many different kinds of tokens on our platform as we can,” a representative from BitMart said. “Now we are able to offer the world’s first ethical DeFi token, $MRHB. This token has the opportunity to onboard many previously excluded communities to cryptocurrencies.”
The goal of the MRHB DeFi platform is to do just that, with a special focus on building a platform acceptable to all those who previously couldn’t participate in the crypto space because it was seen as unethical according to their faith or personal beliefs. To ensure the platform can be used by all, MRHB DeFi uses a strict vetting process to ensure all cryptocurrencies, products and services on their platform are certified both ethical and halal. This makes it possible for Muslims to trade cryptocurrencies and benefit from other DeFi services, which they were previously restricted from doing. With 1.7 billion Muslims around the world representing a financial market worth over US$3 trillion, this represents a major turning point in the DeFi movement — and more than 14 companies have teamed up with MRHB DeFi to chase this market opportunity, including Polygon Technology.
“The $MRHB token is still trading well above the price it launched at in December last year. To support the token, we’ve successfully launched other products as well, including the SouqNFT Marketplace and Sahal Wallet, both of which have created a lot of excitement in our community,” said MRHB DeFi CEO Naquib Mohammed. “We look forward to sharing our ethics-based DeFi solution with an even wider audience, thanks to the increased exposure our BitMart listing is sure to bring.”
With five international offices on two continents, including Asia and North America, BitMart has over 5 million users, more than 800 trading pairs and a daily trading volume exceeding US$1.5 billion. BitMart was founded in 2018.
A DeFi Solution That Anyone Can Get Behind
MRHB DeFi is keen to build a comprehensive platform that all people can easily join. To facilitate this, they launched Sahal Wallet last month. It’s a non-custodial wallet that works as a portal to the whole DeFi ecosystem that MRHB is building. And most importantly, only halal, ethical cryptocurrency tokens are supported by this wallet — meaning all ethics-conscious people can use it without worry.
This also means that the platform is truly not just for Muslims. In fact, it’s an excellent choice for anyone who cares deeply about ethics and only wants to support ethical companies and products.
“The word ‘halal’ might be foreign to some, but what it primarily means is that we follow ethical business practices,” Mohammed said. “This means many things. We are opposed to all forms of social exploitation, for example, and we avoid usury. We also support transparency and sustainability as much as humanly possible. These are all things that anybody, regardless of faith, should be more than happy to support.”
Another important feature of Sahal Wallet is how convenient it is. The wallet offers users instant access to a list of halal cryptocurrencies to choose from, removing the need for rigorous research when choosing which tokens to buy and hold. The platform is also being built with user-friendliness in mind, to make it an ideal product for crypto newbies.
“The most important thing for our platform is that it is as accessible and easy to use as possible,” Mohammed said. “For many people in our community, this is their grand introduction to the cryptocurrency scene. We need to make a good impression by avoiding the stereotypical complications that plague most projects in the crypto space.”
MRHB DeFi has a number of other products in the works to build out their growing DeFi ecosystem. The next product coming up is a liquidity harvester which they say will offer passive yields between five to 15 percent. Further launches include a cross-chain DEX aggregator, a decentralized philanthropy (DePhi) platform, interest-free crypto financing and a launchpad for startups and entrepreneurs. Their roadmap is an ambitious one, with all products launching over the coming months through Q2 of next year.
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.
BitMart Exchange is a premier global digital assets trading platform with over 5 million users worldwide and ranked among the top crypto exchanges on CoinMarketCap. BitMart currently offers 800+ trading pairs with one of the lowest trading fees in the market. To learn more about BitMart, visit their Website, follow their Twitter, or join their Telegram for more updated news and promotions. Download BitMart App to trade anytime, anywhere.
MRHB.Network Official Channels
Telegram Announcements: https://t.me/marhabadefi_ANN
SouqNFT Marketplace: https://souq.mrhb.network