Islamic Coin, an Islamic cryptocurrency project, has completed a new round of financing of $200 million.
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According to BlockBeats news on June 29th, Islamic Coin, a cryptocurrency project that complies with Islamic law, announced that it has received a $200 million investment from digital asset investment company ABO Digital, bringing its total financing to $400 million.
Islamic Coin also announced a partnership with UK company DDCAP Group to develop several Web3 solutions for Islamic finance, stating that it is "building a game-changing financial platform that combines the ethics and traditions of Islamic finance."
It is reported that Islamic Coin is built on its own Haqq blockchain and aims to strictly comply with Islamic financial rules and traditions. Last year in August, Islamic Coin completed a $200 million private placement financing and claimed to have obtained approval from Fatwa (Islamic law precedent) for the cryptocurrency project.
Amidst the market conditions where multiple projects have shut down and Eastern Capital is struggling, are the "a16z's" making high-profile appearances and frequent moves to buy low in the cryptocurrency industry?