Malaysia-based firm HelloGold announced on Friday that its GOLDX token has earned the world’s first Shariah-compliance certification, becoming the first cryptocurrency to be certified as in accordance with the law that governs Islamic finance.
GoldX is an Ethereum-based token that represents actual gold, launched by Malaysian startup HelloGold. It enters the market at a time where cryptocurrency players are demanding more regulation.
HelloGold recently launched in Malaysia, is the first online gold platform to be endorsed as Shariah compliant by the Shariah Supervisory Board of Amanie Advisors. The approval is predicted to give the company access to millions of Muslim customers.