DUBAI: MRHB DeFi, the world’s first ethics-based decentralized finance (DeFi) platform, is announcing the 22.2.22 launch of Sahal Wallet, a non-custodial cryptocurrency wallet that functions as a gateway to the entire MRHB ecosystem of ethical DeFi products.
“We are very proud to launch Sahal Wallet, the world’s first ethical and halal crypto wallet,” said MRHB DeFi CEO Naquib Mohammed. “This product will act as a gateway to DeFi for the excluded communities whom we are building a trustworthy and safe space in the cryptoverse which is accessible to everyone.”
“Every product we build on the MRHB platform is centered around creating better access to the opportunities in crypto assets,” added MRHB DeFi CTO Deniz Dalkilic. “Our wallet is the first to cater to communities who have thus far been excluded due to ethical investing and faith-based financial prohibitions, particularly those regarding interest and debt-based income. We strongly believe that we can contribute to a crypto future where ethics and community come first.”
Sahal Wallet is the Ethical Gateway to the MRHB Ecosystem of Halal Crypto Products.
Offering multi-chain token support — including for the company’s own $MRHB token which launched in December 2021 — Sahal Wallet is currently fully integrated with MRHB DeFi’s pioneering SouqNFT Marketplace, a platform designed to be free from unethical and NSFW content. Crucially, the Wallet only lists halal tokens and projects based on a comprehensive internal assessment process.
Further DeFi products and services, such as a liquidity harvester, a cross-chain DEX aggregator, decentralized philanthropy (DePhi), interest-free crypto financing and an entrepreneur launchpad are in the works and scheduled to launch (in this order) over the coming months from Q1 2022 through Q2 2023.
The MRHB DeFi platform is built to target a range of communities who have hitherto been excluded from cryptocurrency and DeFi investment due to a lack of trust in the ethics of the tokens and protocols involved. For instance, the Islamic Finance sector, representing over US$3 trillion in liquidity, was very much absent from the cryptocurrency space before the $MRHB token was launched.
MRHB also aims to service excluded communities due to issues of geography, social status or wealth. Over the coming months a number of equal access, low-cost DeFi services and tools will be launched on the platform. Many of the values upheld by the halal platform, such as equality of opportunity and others, also align with the United Nations’ Sustainable Development Goals.
MRHB’s user-friendly platform is also a great option for people who have shied away from crypto due to its complexity. Designed to be simple, it aims to provide access to the new-to-crypto user but also provides options for the more advanced.
The $MRHB token is currently listed on both DEX and CEX. It can be traded on PancakeSwap, a leading decentralized exchange (DEX) on the Binance Smart Chain (BSC) network. A pool of 5 million MRHB tokens has been allocated for liquidity providers (LPs).
Just last week, $MRHB was also listed on the centralized LBank global exchange. A series of promotions are taking place, including a 60,000 $MRHB airdrop and a trading competition with an attractive pool of 210,000 $MRHB for participants. In conjunction with Sahal Wallet, the trading competition is also launching today – 22.2.22.
The MRHB project is backed by partners and investors, including Sheesha Finance, Australian Gulf Capital, Polygon Technology, NewTribe Capital, Blockchain Australia, Mozaic, Contango Digital Assets, ZKSync, Acreditus Partners, EMGS Group, Sinofy Group, Masary Capital, Sukhavati Protocol and MKD Capital, amongst others.
MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of “Ethical and Inclusive DeFi” by following faith-based financial and business principles where all excluded communities can benefit from the full empowerment potential of DeFi.
The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts, business entrepreneurs and industry professionals, who have all come together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between faith-conscious communities and the blockchain world.