News

Bybit Launches Islamic Account, Enabling Shariah-Compliant Trading

Muslim traders can now gain access to a global trading platform that is fully aligned with stringent Islamic legal standards.

Published

2 months ago

September 24, 2024

Nour Nasir

bybit launches islamic account enabling shariah compliant trading

Bybit, the world’s second-largest crypto exchange by trading volume, has unveiled its new Islamic Account, marking it as the first global cryptocurrency platform to provide Shariah-compliant services for Muslim traders. The innovative new account makes cryptocurrency trading more accessible to Islamic communities and ensures that all activity aligns with Shariah law.

The Islamic Account was created in collaboration with ZICO Shariah Advisory Services Sdn. Bhd. (ZICO Shariah) and CryptoHalal, guaranteeing that all Bybit services align with strict Islamic finance standards.

Key Aspects Of Bybit’s Islamic Account Include:

Global Availability: Accessible to users worldwide, except in regions where legal restrictions apply.
Shariah-Compliant Offerings: The platform features spot trading with 75 Shariah-compliant tokens, a DCA trading bot, and a Spot Grid Bot, all adhering to Islamic finance principles.
Double Shariah Certification: Bybit has secured certification from both Crypto Halal and ZICO Holdings, ensuring peace of mind for Muslim traders.

The Islamic economy serves nearly 1.9 billion people globally, with the Islamic finance sector alone valued at an estimated $2.3 trillion. The Middle East, Africa, and South Asia (MEASA) region is at the forefront of this growth, and Bybit’s introduction of a Shariah-compliant platform taps into this rapidly expanding market. The initiative offers Muslim traders a reliable, trustworthy solution to enter the cryptocurrency space without compromising their religious beliefs.

Also Read: Botim Launches MENA’s First-Ever “Send Now, Pay Later” Service

Joan Han, Bybit’s Sales & Marketing Director, expressed the company’s excitement, saying, “We are thrilled to introduce our Islamic Account, which represents a major milestone in our commitment to providing inclusive and accessible trading solutions. By partnering with Crypto Halal and ZICO Holdings, we have ensured that our offerings align with the principles of Islamic finance, empowering Muslim traders to participate in the growing cryptocurrency market”.

Bybit’s Islamic Account reflects the platform’s commitment to inclusivity and diversity, opening doors for Muslim traders and contributing to the global cryptocurrency market’s growth.

News

Popcorn AI Raises $500,000 For “Conversational eCommerce”

The firm’s AI platform uses specialized chatbots to handle entire eCommerce journeys, from recommending products to seamless payments.

Published

5 days ago

November 14, 2024

Nour Nasir

Popcorn AI

Dubai-based Popcorn AI has announced the closure of a pre-seed funding round that raised $500,000 for its revolutionary AI platform. The investment, led by Spring Studios with the backing of Salica Investments, Al Waha Fund of Funds, and prominent angel investors from Saudi Arabia, represents a key step forward in reshaping customer-business interactions using the power of conversational AI.

Unlike traditional chatbot systems, Popcorn AI’s platform is designed to redefine eCommerce by creating highly intelligent sales agents that handle entire customer journeys, from personalized product recommendations right through to seamless payment acceptance — all through a conversational experience.

The clever idea was recently tested to great success when one of Popcorn AI’s chatbot agents closed a $400,000 real estate transaction, handling everything from the first inquiry to the final sale. Early adopters have reported a massive 90% reduction in customer acquisition costs, along with a highly impressive 20% improvement in conversion rates, highlighting the platform’s potential to transform customer engagement across dozens of industries.

Josh Rodger, Principal at the Spring Studios fund, expressed enthusiasm for the project, saying, “We are proud to support Popcorn AI’s mission to reshape how businesses connect with their customers. Their innovative approach to conversational commerce has the potential to revolutionize industries and redefine the way customers experience digital transactions”.

Also Read: Top Free AI Chatbots Available In The Middle East

Meanwhile, Popcorn AI founder and CEO Yousef Al Arif declared: “The future of commerce is conversational,” adding, “Today’s consumers want shopping experiences that are instant, personalized, and effortless. We’re not building just another chatbot; we’re crafting intelligent commerce agents that understand context, recall customer preferences, and guide users through the entire shopping process, much like an expert salesperson would”.

Building upon a decade of experience scaling eCommerce and marketplace platforms across the MENA region, Al Arif has now achieved huge success with Popcorn AI, positioning the product at the cutting edge of AI-powered eCommerce. The platform has also made significant impacts in sectors such as real estate, and hospitality, signaling that conversational commerce is emerging as a powerful new model for digital businesses.