• Ruya introduces Sharia-compliant Bitcoin trading through its mobile app, emphasizing responsible investing and ethical digital asset participation.

• The UAE’s crypto market is expanding rapidly, with inflows increasing 42% and DeFi volumes rising significantly, fostering regulated investment opportunities.

• Through its alliance with Fuze, Ruya ensures secure, transparent Bitcoin trading with low fees and educational support for informed decision-making.

Discover Ruya’s Sharia-compliant Bitcoin trading in UAE: Ethical, secure digital investing powered by Fuze. Join the booming crypto scene responsibly. Start your journey today! (142 characters)

What is Ruya’s Sharia-compliant Bitcoin trading service?

Sharia-compliant Bitcoin trading allows UAE customers of Ruya, the nation’s first digital Islamic bank based in Ajman, to buy and sell Bitcoin through its mobile app while adhering strictly to Islamic finance principles. This innovative service, launched in partnership with Fuze, a licensed digital asset platform, prioritizes ethical investing, transparency, and long-term wealth creation over speculative activities. It provides a secure gateway for Muslims to engage in the digital economy responsibly.

How does the partnership with Fuze enhance Sharia compliance?

The collaboration between Ruya and Fuze combines expertise in virtual assets with Sharia-compliant banking to create a robust platform for Bitcoin trading. Fuze’s technology ensures all transactions meet Islamic standards, overseen by Ruya’s Sharia Supervision Committee, which reviews operations for ethical integrity. According to Chainalysis’ 2024 report, this aligns with the UAE’s growing crypto sector, where inflows surged 42% to over US$30 billion from July 2023 to June 2024. Mohammed Ali Yusuf, Co-Founder and CEO of Fuze, stated, “The Ruya and Fuze partnership brings together expertise in digital assets and Shari’ah-compliant banking, creating a platform that is both secure and ethically grounded.” Low fees and in-app guidance further support users in making informed, non-speculative investments. This setup not only boosts security through advanced protocols but also promotes transparency, giving investors confidence in a regulated environment shaped by authorities like the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA).

Ruya partners with Fuze to offer Sharia-compliant Bitcoin trading, promoting responsible digital investing amid growing UAE crypto activity.

Key Highlights

• Ruya now offers Sharia-compliant Bitcoin trading through its app, focusing on responsible investing and long-term wealth growth.
• The UAE sees booming crypto interest, with inflows up 42% and DeFi activity rising, creating opportunities for regulated digital investments.
• Ruya partners with Fuze to provide secure, transparent Bitcoin trading, emphasizing ethics, low fees, and guidance for informed investing.

Ruya, a digital-first Islamic bank in the United Arab Emirates (UAE), now allows customers to buy and sell Bitcoin through its mobile app. Based in Ajman, it is the first Islamic bank to offer fully Sharia-compliant Bitcoin trading.

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According to a local report, the new offering introduces ethical digital investment opportunities in furtherance of Ruya’s more general mission of long-term wealth creation in accordance with Islamic finance principles. It is powered through a partnership with Fuze, a licensed digital asset platform, to ensure security, transparency, and ease of use.

In addition, Ruya focuses on responsible investing and avoids speculative trading. According to Christoph Koster, CEO of Ruya, “By enabling our customers to invest in Bitcoin through our platform, we enable them to participate responsibly in the digital economy.” Its platform provides educational resources, webinars, and in-app guidance that will help users make informed decisions.

Frequently Asked Questions

What makes Ruya’s Bitcoin trading Sharia-compliant?

Ruya’s service ensures Sharia compliance by avoiding interest-based transactions, speculation, and unethical elements, with all activities reviewed by its Sharia Supervision Committee. Powered by Fuze, it focuses on asset-backed, transparent trades for long-term holding, aligning with Islamic principles of ethical wealth creation in the digital space.

Is Sharia-compliant Bitcoin trading safe in the UAE?

Yes, trading through Ruya and Fuze is secure, leveraging licensed platforms and UAE regulatory oversight from bodies like the SCA and VARA. Features include advanced security measures, low fees, and educational tools to help users navigate the market confidently, especially as crypto inflows in the region hit over US$30 billion last year.

Key Takeaways

• Ethical Innovation: Ruya pioneers Sharia-compliant Bitcoin trading, blending Islamic finance with digital assets for responsible participation.
• Market Growth: UAE’s crypto sector surged with 42% higher inflows and 74% DeFi increase, per Chainalysis, positioning it as a global hub.
• Secure Partnership: Fuze’s integration provides transparency and low-cost access, encouraging informed, long-term investing strategies.

Strategic partnership enhances compliance and security

The collaboration with Fuze brings together expertise in virtual assets and Sharia-compliant banking. Mohammed Ali Yusuf, Co-Founder and CEO of Fuze, commented, “The Ruya and Fuze partnership brings together expertise in digital assets and Shari’ah-compliant banking, creating a platform that is both secure and ethically grounded.” Thus, customers have a strong trading environment consistent with Islamic principles, under the auspices of Ruya’s Shari’ah Supervision Committee.

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The platform also has low fees compared to others, making it practical for ethical digital investing. The bank maintains clear rules and transparency, giving investors confidence for long-term planning. Unlike many platforms that push short-term speculation, Ruya focuses on helping users grow wealth steadily over time.

The UAE’s crypto landscape and market growth

The launch comes as interest in cryptocurrencies grows across the UAE. According to Chainalysis’ 2024 report, crypto inflows rose 42%, reaching over US$30 billion between July 2023 and June 2024.

At the same time, DeFi activity rose by 74%, and volumes on decentralized exchanges surged 87% to US$11.3 billion. This has been driven by the enabling regulatory environment of the UAE, shaped by the SCA and, in Dubai, by VARA.

The same has been done by other UAE-based banks, such as RAK Bank and Liv Bank, through partnerships with crypto exchanges for offering trading services. 

Furthermore, Mashreq Capital launched BITMAC, a multi-asset fund that includes Bitcoin exposure through an ETF. As a result, the UAE is gaining momentum as a hub for ethical and regulated digital investment avenues.

Conclusion

Ruya’s introduction of Sharia-compliant Bitcoin trading in partnership with Fuze marks a significant step in integrating ethical Islamic finance with the burgeoning UAE crypto market. With robust regulatory support and a focus on transparency, this service empowers users to engage responsibly in digital assets, avoiding speculation while pursuing sustainable growth. As the region’s crypto inflows continue to climb, opportunities for compliant investing like this will likely expand, inviting more participants to build wealth in line with their values—explore these options to stay ahead in the evolving digital economy.

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