Bybit Becomes First Exchange with Sharia-Compliant Accounts

Bybit Launches Sharia-Compliant Crypto Accounts for Muslim Investors

In a significant move for the global cryptocurrency market, Bybit has introduced Sharia-compliant crypto accounts, making it the first major exchange to offer such services. This initiative is designed to cater specifically to Muslim investors, aligning with Islamic financial principles while expanding access to digital assets for this demographic.

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What’s the News?

Bybit, the second-largest cryptocurrency exchange by trading volume, announced the launch of Sharia-compliant accounts following consultations with ZICO Shariah Advisory Services. These accounts are structured to provide an interest-free experience, allowing Muslim investors to engage in crypto trading in line with Islamic teachings.

The initial offerings on these accounts will include Spot Trading, a Dollar-Cost Averaging (DCA) Trading Bot, and a Spot Grid Bot. Bybit will support 18 cryptocurrencies on these accounts, including major assets such as USDT, BTC, and ETH.

This development comes amid broader trends of inclusivity within the cryptocurrency space. In a related announcement, Kraken has expanded its footprint in Europe by acquiring Dutch crypto broker Coin Meester B.V. (BCM), enhancing its operations across multiple countries.

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Meanwhile, in the United States, Coinbase is pushing for regulatory clarity, appealing the U.S. Securities and Exchange Commission’s (SEC) recent denial of its rulemaking petition, which could help establish a clearer framework for the crypto industry.

Conclusion

Bybit’s launch of Sharia-compliant accounts represents a key step in fostering greater inclusivity within the cryptocurrency sector, potentially attracting a larger number of Muslim investors. At the same time, Kraken’s European expansion and Coinbase’s efforts to clarify regulations in the U.S. reflect the industry’s ongoing drive to improve accessibility and legal certainty for all investors.

Source: coingabbar

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Writer @Elena

Elena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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