Islamic Defi $mrhb Token Featured On Nasdaq Top 7 In Jan To List On Lbank Global Exchange

By Author: Cecilia Wong
Total Articles: 756
Comment this article

MRHB DeFi, the world’s first decentralized finance (DeFi) platform dedicated to providing only ethical and halal crypto opportunities, is pleased to announce the listing of their $MRHB token on their first centralized exchange (CEX) platform, LBank cryptocurrency exchange.

In addition to listing the token, MRHB and LBank will embark on a series of promotions which will also include a trading competition with attractive prizes, with details to be announced later. By coupling the benefits of crypto with the familiarity of fiat, MRHB’s listing on LBank opens the doors of DeFi to users of all backgrounds and will significantly increase awareness and boost token liquidity for MRHB.

Details for the MRHB token listing on LBank are as follows:
Deposit time: 4pm (UTC+8), Feb. 16, 2022
Trading start time: 9pm (UTC+8), Feb. 17, 2022
Withdrawal time: 4pm (UTC+8), Feb. 18, 2022
Trading Pair: MRHB/USDT

“We are pleased to onboard the $MRHB token to our exchange,” said LBank CEO, Allen Wei. “We’ve discovered that LBank shares many values with MRHB, one in particular, is inclusion. Our ...
... collaboration will certainly help the both of us reach out to a wider audience.”

Wei is referring to MRHB’s strong focus on excluded communities and ethical business practices in its outreach to a wider audience of previously unreachable demographics, including the more than one billion-strong Muslim community seeking a halal entry to cryptocurrency investments.

Founded in 2015, LBank is an established centralized cryptocurrency asset trading platform known for being a safe and convenient platform. Over US$1 billion in trading volume is transacted on LBank every day. At the time of this writing, the CEX is ranked Top 23 on Coinmarketcap.

Another Month of Strong Traction for the MRHB Project and Token

The $MRHB token listing on LBank this month follows a successful over-subscribed IDO at the end of December. Including private funding rounds, MRHB DeFi raised investment worth US$5.5 million, over 85 percent of which came directly from their own enthusiastic community of more than 60K supporters.

“We are excited to announce the MRHB token listing on LBank, our first centralized exchange,” said MRHB DeFi CEO Naquib Mohammed. “The listing is strategically timed just before our next product launch — the Sahal Wallet, the world’s first non-custodial wallet for users who need an easier way to access ethical and halal crypto assets. The wallet also serves as a community gateway to our ambitious eight-product ecosystem.”

MRHB DeFi’s strong traction and vision have not gone unnoticed. The project token was picked as one of ‘7 Killer Cryptos to Buy for January on Nasdaq and InvestorPlace last month. The Center for Global Muslim Life also listed MRHB DeFi as one of ‘The 10 Most Innovative Global Muslim Blockchain & Metaverse Projects to Watch in 2022’.

Opening the Doors to DeFi

MRHB DeFi was created to bridge a perceived gap — to provide excluded and crypto-cautious communities greater access to the growing opportunities and utilities of the cryptosphere. The project is underpinned by faith-based DeFi offerings which adhere to the ethical investment and financing principles rooted in Islamic Finance. Many values upheld by the halal platform also align with the United Nations Sustainable Development Goals. Business practices deemed ethical include those that avoid interest, usury and social exploitation as well as support sustainability, asset or utility backed financing, transparency and equitable risk-reward sharing. These principles have universal appeal far beyond the faith-conscious community.

“Blockchain and cryptocurrency have immense potential and represent a new paradigm in finance that the world can benefit from,” added CEO Naquib. “As such, it is important for these opportunities to be open to all communities, for none to be excluded.”

With the current Islamic Finance market worth about US$3 trillion, by attracting even a small portion of Islamic liquidity into DeFi, the company stands to significantly boost the total value of the global DeFi sector.

Enroute to an Ethical Ecosystem of 8 Halal DeFi Offerings

The MRHB Sahal Wallet, launching Feb 22, is a cryptocurrency wallet that lists and only accepts tokens certified by MRHB’s Shariah Governance Board. Along with the already launched Souq NFT Marketplace, MRHB has six other products to release, including a ‘Liquidity Harvester’ offering passive yields of 5% - 15% and a decentralized philanthropy solution ‘DePhi’.

In addition to LBank, $MRHB is also available for trades on PancakeSwap, a leading decentralized exchange on the Binance Smart Chain (BSC) network, currently offering a pool of 5 million MRHB tokens to reward LPs (liquidity providers).

The ethical startup 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.