Crypto.com Teams Up with Dubai Islamic Bank
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This partnership marks a key step in Crypto.com’s expansion in the UAE and GCC region.
The collaboration will explore a range of innovative payment solutions and services. It will focus particularly on Sharia-compliant platforms, such as tokenized Islamic Sukuks and real-world asset tokenization.
Crypto.com and DIB Partner to Explore Crypto Payments and Tokenized Assets
The MoU was signed at DIB’s headquarters by Crypto.com’s President of UAE Operations, Mr. Mohammed Al Hakim, and DIB’s Chief Digital Officer, Mr. Musabbah Al Qaizi. The agreement highlights several areas of potential collaboration, including promoting the Crypto.com App and Card through DIB’s channels and offering reward-based campaigns for DIB’s customers. Additionally, the partnership aims to enable cryptocurrency payments via DIB’s systems and facilitate fiat currency funding on the Crypto.com App.
We’re proud to announce a partnership with @DIBtoday, the UAE’s largest Islamic Bank, to explore innovative payment solutions and investigate untapped potential in the Islamic finance sector.
It’s another significant milestone on our path to expansion in the UAE and wider GCC… pic.twitter.com/toV7n8GXbv
— Crypto.com (@cryptocom) December 30, 2024
One of the most exciting aspects of the collaboration is the exploration of tokenizing real-world assets, including Islamic Sukuks (sharia-compliant bonds) and real estate portfolios, using the Cronos blockchain. Both companies also plan to integrate Crypto.com’s advanced technology solutions, such as custody, OTC trade execution, and crypto trading, for DIB’s retail clients.
More About Crypto.com
Crypto.com is supporting the rebranding of the Mines of Dalarnia ($DAR) token to Dar Open Network ($D). As part of this transition, the $DAR token will be delisted from both the Crypto.com App and Exchange.
https://t.co/vCNztATSCO is supporting the Mines of Dalarnia ($DAR) token rebrand to Dar Open Network ($D)
DAR will be delisted from the https://t.co/vCNztATSCO App and Exchange and reissued as D
— Crypto.com (@cryptocom) December 27, 2024
The rebranded token, $D, will replace $DAR, with all trading. Also, deposits, and withdrawals of the old token being permanently suspended starting January 6th.
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