MRHB DeFi Network, the world’s first decentralized finance (DeFi) platform focused solely on providing ethical and halal crypto opportunities, is listing its $MRHB token on BitMart, a global centralized cryptocurrency exchange (CEX).
Along with the token listing, MRHB and BitMart will team up on a series of marketing promotions with various incentives to increase awareness, boost trading activities and improve token liquidity.
“We are pleased to offer a wide variety of tokens on our platform and now our users will have the opportunity to trade the $MRHB token, the first in ethical DeFi,” said BitMart’s representative. “$MRHB can play an instrumental role in bringing new communities to cryptocurrencies, those who have previously been excluded due to reasons of faith, ethics or complexity.”
MRHB DeFi is, in fact, doing just that. The project’s DeFi platform includes only cryptocurrencies and services that pass a strict ethical and halal vetting process, allowing them to target communities who have up till now, been wary of cryptocurrencies. One such demographic is the 1.7 billion population of Muslims, a financial market worth over US$3 trillion that was for the most part absent from the cryptoverse before MRHB DeFi launched.
Latest Fintech News: FinTech Interview Series with Priti Rathi Gupta, Founder, LXME
“We’ve had a string of successful launches in the past few months, including the IDO of our MRHB token – still trading positively above the launch price in a very volatile market. In addition, a unique Sahal wallet and SouqNFT marketplace have been well received by our community,” said MRHB DeFi CEO Naquib Mohammed. “Listing on BitMart will help us significantly increase our platform exposure and bring our growing ethics-first DeFi platform to an even wider audience.”
Founded in 2018, BitMart has five international offices in Asia and North America. The exchange boasts over 5 million users, offers more than 800 trading pairs and over US$1.5 billion in trading volume is transacted on BitMart every day.
A DeFi Portal for Everyone
Last month, MRHB.Network launched their Sahal Wallet, a non-custodial wallet that acts as a portal to the entire MRHB DeFi ecosystem. Of significant note is that the wallet only supports halal, ethical cryptocurrency tokens — allowing all users with ethical concerns to transact with peace of mind.
Naquib emphasized that the platform is not just for Muslims — it’s for everyone who cares about making sound ethical financial decisions.
“To be certified ‘halal’ means we also follow only ethical business practices,” Naquib said. “This includes avoiding usury and social exploitation, as well as supporting sustainability and transparency, among other factors. But what’s important here is that they are all principles with universal appeal that would be readily acceptable to everyone, regardless of faith.”
Built as a DeFi platform for the masses, MRHB’s numerous financial services are linked to the Sahal Wallet and allow easy, user-friendly access to decentralized finance opportunities.
“It is extremely important to us that our platform is accessible and simple to use,” Naquib said. “Many in our community are first-time cryptocurrency users. Most can agree that user-friendliness is not currently a strength in the crypto industry — we aim to change that.”
Download our top whitepaper
Building Reliable and Secure Fintech Systems in 2022
The MRHB DeFi team is working diligently to roll out their ambitious roadmap. Upcoming products and services, including a liquidity harvester offering passive yields of 5% – 15%, a cross-chain DEX aggregator, a whole platform dedicated to decentralized philanthropy (DePhi), interest-free crypto financing and an entrepreneur launchpad, are scheduled to launch over the coming months through Q2 2023.
The ethical startup is backed by a number of partners and investors, including Polygon Technology, Sheesha Finance, Australian Gulf Capital, NewTribe Capital, Blockchain Australia, Mozaic, Contango Digital Assets, ZKSync, Acreditus Partners, EMGS Group, Masary Capital, Sinofy Group, Sukhavati Protocol and MKD Capital, amongst others.
Latest Fintech News: Visa Completes Acquisition of Tink
[To share your insights with us, please write to sghosh@martechseries.com]
