Arab Islamic compliant MRHB DeFi , the worldâs first ethics-based decentralized finance (DeFi) platform, is launches crypto wallet called Sahal Wallet , a non-custodial cryptocurrency wallet that functions as a gateway to the entire MRHB ecosystem of ethical DeFi products.
âWe are very proud to launch Sahal Wallet, the worldâs first ethical and halal crypto wallet,â said MRHB DeFi CEO Naquib Mohammed .âThis product will act as a gateway to DeFi for the excluded communities whom we are building a trustworthy and safe space in the cryptoverse which is accessible to everyone.â
âEvery product we build on the MRHB platform is centered around creating better access to the opportunities in crypto assets,â added MRHB DeFi CTO Deniz Dalkilic .âOur wallet is the first to cater to communities who have thus far been excluded due to ethical investing and faith-based financial prohibitions, particularly those regarding interest and debt-based income. We strongly believe that we can contribute to a crypto future where ethics and community come first.â
Offering multi-chain token support, including for the companyâs own $MRHB token which launched in December 2021. Sahal Wallet is currently fully integrated with MRHB DeFiâs pioneering SouqNFT Marketplace , a platform designed to be free from unethical and NSFW content. Crucially, the Wallet only lists halal tokens and projects based on a comprehensive internal assessment process.
Further DeFi products and services, such as a liquidity harvester, a cross-chain DEX aggregator, decentralized philanthropy (DePhi), interest-free crypto financing and an entrepreneur launchpad are in the works and scheduled to launch (in this order) over the coming months from Q1 2022 through Q2 2023.
The MRHB DeFi platform is built to target a range of communities who have hitherto been excluded from cryptocurrency and DeFi investment due to a lack of trust in the ethics of the tokens and protocols involved. For instance, the Islamic Finance sector, representing over US$3 trillion in liquidity, was very much absent from the cryptocurrency space before the $MRHB token was launched.
MRHB also aims to service excluded communities due to issues of geography, social status or wealth. Over the coming months a number of equal access, low-cost DeFi services and tools will be launched on the platform. Many of the values upheld by the halal platform, such as equality of opportunity and others, also align with the United Nationsâ Sustainable Development Goals.
MRHB Token was recently listed on the centralized LBank global exchange.
The MRHB project is backed by partners and investors, including Sheesha Finance , Australian Gulf Capital , Polygon Technology , NewTribe Capital , Blockchain Australia , Mozaic , Contango Digital Assets , ZKSync , Acreditus Partners , EMGS Group , Sinofy Group , Masary Capital , Sukhavati Protocol and MKD Capital, amongst others.