Tether has obtained Shariah certification for its tokenized gold token XAUt, enabling access to the Islamic finance market. In April, Palm Azgar Finance also expanded its Shariah-compliant PUSD stablecoin to the ADI Chain network, targeting a market worth over $3 trillion. Dubai issued its 50th virtual asset service provider license through VARA, surpassing the number of licensed crypto firms in Hong Kong and Singapore. Islamic scholars remain divided on whether digital assets comply with Shariah principles that prohibit excessive uncertainty, speculation and interest. Dubai is emerging as a major crypto hub in the Middle East with a rapidly expanding regulated digital asset market.
Source: Read the original article
