Coinsbit India Collaborates with MHRB DeFi to bring the world’s first halal DeFi ecosystem to India

The cryptocurrency industry has always been symbolic of financial inclusion. The core motivation fuelling the use of decentralized technologies has been to empower individuals and give them authority over their own finances, cutting off intermediaries or the influence of centralized entities. Despite the growing popularity of crypto, some sections of the community are still left behind.

India is home to 200 million Muslims constituting 10% of the global population and is the world’s third-largest Muslim community. This group is often excluded from the cryptoverse due to their faith-driven principles regarding financial and business conduct. To address this issue, MHRB DeFi has been developing the world’s first halal DeFi ecosystem.

Coinsbit India is proud to join hands with MHRB DeFi to aid in their efforts to bring crypto-asset opportunities to India’s huge population of 200 million Muslims, driving further participation in the blockchain economy.

MRHB DeFi is a halal, decentralized finance platform that was created to represent the real spirit of “Ethical and Inclusive DeFi” by adhering to faith-based financial and commercial principles, ensuring that all excluded populations may benefit fully from DeFi’s empowering potential.

The diverse team includes researchers, technocrats, influencers, Islamic fintech experts, and business entrepreneurs who have come together to ensure that MRHB DeFi succeeds in a way that benefits society as a whole, effectively bridging the divide between faith-based communities and the blockchain world.

Commenting on this partnership, MRHB DeFi Founder & CEO Naquib Mohammed said:

“Blockchain and DeFi have exploded in popularity in 2021, and we forecast this stratospheric growth to continue. That’s why we’re excited to be teaming up with one of India’s premier cryptocurrency exchanges to offer MRHB DeFi products and services to everyone across the Indian subcontinent who are looking for a true, ethical alternative to the existing platforms in the cryptoverse.”

MRHB DeFi’s concept of an inclusive crypto-verse is based on Islamic ethical finance principles but is also suited for individuals seeking a socially aware blockchain that is free of interest, usury, exploitation, and other unethical business practices.

The fact that MRHB DeFi is Halal means that it works under the strict ethical guidelines of Shariah law, which means that all organizational decisions are made in accordance with Islamic teachings that encourage inclusiveness and access, and function simply and transparently for the benefit of its consumers.

Coinsbit India is the first Indian exchange to provide a certified Shariah-compliant initiative to the Muslim community as a result of this collaboration. During the launch, MRHB will execute an initial exchange offering (IEO) on the Coinsbitt Platform, introducing the blockchain’s native token, $MHB (Marhaba Token), to the worldwide community.

MRHB DeFi will also integrate Coinsbit’s platform with its app (Sahal Wallet), allowing customers to trade crypto-assets directly through Coinsbit. Both parties will benefit significantly from each other’s marketing and community-building efforts.

Coinsbit India has only recently begun operations, but it has already garnered widespread attention by onboard a million members in less than three months.

Lately, India has been experiencing an influx of investors looking to enter the cryptocurrency industry. With the regulators working on drafting regulations that help define the status of cryptocurrencies in the nation, crypto adoption is on the rise.

About Coinsbit

Coinsbit India is a peer-to-peer crypto trading platform connecting buyers with sellers which are powered by Europe’s largest and award-winning cryptocurrency exchange. Coinsbit.in aims to bring a professional, smooth, easy, and highly liquid Crypto platform in India delivering a superior user experience.

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