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Daily Markup #765: ZaynFi is the first DeFi platform to gain Shariah approval from Amanie Advisors as a trusted & transparent platform for Muslims

June 14, 2023 · 1 min read
Credit: Astro Awani

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  • Decentralized Finance (DeFi) has just been made more accessible to Muslims by 500-backed DeFi startup ZaynFi. 
  • The team is the first DeFi platform to receive Shariah approval from Amanie Advisors, a leading global Shariah advisory firm.
  • This approval represents a significant milestone in the DeFi industry as it recognizes ZaynFi as a trusted and transparent platform that complies with Islamic Finance principles.
  • “We are on a mission to simplify DeFi for the masses and we are delighted that with this certification, we expand the reach of our products into the global Muslim market,” said Co-founder & CEO Syakir Hashim.
  • “This is the first time that Shariah governance around DeFi’s yield taxonomy has been established. This will open up the world of DeFi to a large underserved community,” he added.
  • ZaynFi recently launched the beta version of its product on the BNB Smart Chain (BSC) to a select group of early users. The product offers users a chance to earn above-market yields with their stablecoins while reducing exposure to the volatility commonly associated with cryptocurrencies.
  • Read the full story here.
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