New Islamic crypto in town: Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is now offering Shariah-compliant accounts, certified by both Crypto Halal and Zico Holdings, according to a statement (pdf). The global crypto exchange claims it is the first to offer a Shariah-compliant service for Muslim traders.

The details: The new Islamic accounts will allow spot trading with up to 75 Shariah-compliant tokens, and will include a trading bot, and a Spot Grid Bot — all compliant with Islamic finance principles. The accounts will be available worldwide, wherever crypto is not restricted.

The move comes as Bybit looks to tap into the Islamic finance sector, focusing on the Middle East, Africa, and South Asia regions.

REMEMBER- Bybit is inching closer to getting a full operational license in Dubai. The crypto player — which established its global headquarters in Dubai in 2022 — secured provisional approval for a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority earlier this month.

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