On September 24, COINOTAG news revealed that cryptocurrency trading platform Bybit has introduced new Shariah-compliant products tailored for Muslim investors. These offerings include spot trading of Shariah-compliant tokens, dollar-cost averaging (DCA) robots, and spot grid robots. Bybit asserted that its Islamic accounts align with religious principles, allowing investors to trade without compromising their beliefs.
Bybit collaborated with Zico Shariah, a Malaysian consulting firm specializing in Islamic finance, to develop these products. The Islamic financial system is structured on the guiding principles of Shariah, prohibiting the payment or collection of interest. This framework emphasizes ethical and fair transactions, where profits and losses are shared between lenders and borrowers.