Today, Canadian venture capital fund Contango Digital Assets announced that it will be working with MRHB DeFi, a decentralized finance platform focused on, "bridging the gap between the Muslim Community and the Blockchain world." The partnership is set to extend DeFi&39s opportunities to users who have refrained from participating due to ethical concerns.
With a team of dedicated experts in Islamic Finance, MRHB has built a solution that is Shariah-compliant. It uses smart contracts to standardize the body of rules and principles that adherents must follow in matters of business in order to participate in DeFi in accordance with their beliefs.
"It is surprising to us that such an important part of the world has not been able to participate in DeFi opportunities yet. MRHB is opening an important door in the Muslim Community for people who wish to benefit from this technology while remaining faithful to their beliefs. We&39re thrilled to be a part of that." - Contango Managing Director, Mike Grantis.
Contango&39s investment is a realization of the fact that there is over $3 trillion in liquidity available in this previously overlooked market. More so, the platform built by MRHB is not exclusive to Muslim users. It is designed to encourage its ethos through a user-friendly experience and comprehensive ecosystem of applications that include interest-free lending services and an authentic NFT marketplace.
"We have built DeFi services that solve issues of faith, ethics, exclusion, and complexity. Our user-friendly platform provides equal opportunities to everyone, not only those who share our concern for holding crypto assets that are halal. With Contango&39s support, we will continue our journey of growth and development within Islamic communities and beyond." - MRHB DeFi CEO, Naquib Mohammed.
By partnering with MRHB, Contango will also provide the platform with additional tools such as expert advice and professional marketing services that will ensure its growth. This includes collaborations with influencer marketing leaders in the blockchain space, Influx Group.
Contango Digital Assets was launched to empower the financial revolution that is presented by blockchain and DeFi technology. It invests in innovative projects from around the world and fosters strategic partnerships with founders who look for more than just capital. Learn more about Contango by visiting the official website or following the fund on Twitter.
About MRHB DeFi
MRHB DeFi is the first ecosystem to offer equal and trusted access to crypto assets, services, and wealth creation opportunities for excluded communities worldwide. Its ecosystem leverages technical expertise and extensive knowledge of how the Islamic ecosystem works to make DeFi available to over one billion potential users. Learn more about MRHB DeFi by visiting the official website or following the project on Twitter.