TechFlow news, December 30 — Cryptocurrency exchange Crypto.com has signed a memorandum of understanding with Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, to collaborate across multiple areas. Under the agreement, DIB will promote the Crypto.com app and payment card through its channels, offer reward programs for DIB customers, and support cryptocurrency payments via the DIB system.
Key aspects of the collaboration include exploring tokenization of Sukuk (Islamic bonds) and real estate portfolios on the Cronos blockchain; integrating Crypto.com's custody, over-the-counter (OTC), and crypto trading technology solutions for DIB retail clients; and enabling fiat top-up functionality for the Crypto.com app.
Mohammed Al Hakim, Head of Operations at Crypto.com UAE, stated that this partnership will bridge cryptocurrency and Islamic banking, paving the way for developing Sharia-compliant crypto solutions.
