Islamic Coin announces token sale; appoints Republic as Web3 advisor

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Islamic Coin, a Shariah-compliant cryptocurrency has announced it is working with Republic Crypto, the web3 advisory group within global digital finance leader, Republic.

The collaboration includes white-glove support to promote Islamic Coin’s go-to-market strategy, along with advisory services focused on tokenomics, DAO governance, and long-term economic utility value.

Republic Crypto will also help engage with potential strategic partners, exchanges and market makers.

Fine-tuning the Islamic Coin value proposition, Republic Crypto advised on creating fair and Shariah-compliant allocation options, distribution, and other mechanisms aimed at adding to the sustainability features in the ecosystem.

Separately, Islamic Coin plans to conduct a Reg D public token offering facilitated by OpenDeal Broker on Republic’s retail investment platform in September 2023.

Upon public launch, Islamic Coin’s international community will reap various advantages, including options to offer liquidity, stake their holdings, and gain tokens during the liquidity mining stage.

The Reg D offering is slated for September 2023.

Islamic Coin secures $200m funding

In other news, last month, Islamic Coin secured $200m from Alpha Blue Ocean’s ABO Digital.

Total funding has reached $400m and has become one of the largest ever in the history of crypto space, a statement said.

Both Islamic Coin and the Haqq Network that powers it cater to the world’s 1.9 billion Muslims and beyond, focused on game-changing products and services.

The partnership will entail introducing Islamic Coin to the ABO network of investors and helping the team structure innovative Shariah-compliant financial products that could be used in the digital asset space to raise alternative funding.

The deal provides for access to a maximum of $200m as and when required and ensures Islamic Coin has a long and stable runway.