A Game Changer for the Middle East. Bybit Launches Crypto Accounts for Muslim Users, Tapping into a $2.3 Trillion Market

Islamic banking is a well-established practice in some countries. It refers, particularly, to the countries in the Middle East, such as the UAE, Turkey, Iran, Egypt, and Saudi Arabia. This system operates according to Islamic principles, and offers financial services that comply with Sharia law. Therefore, the Bybit cryptocurrency exchange has taken a bold step to align the crypto sector with these values.

The platform launched cryptocurrency accounts that meet Sharia-compliant standards for Muslim users. According to Bybit, this is the first offer of its kind in the crypto market. So, Bybit has become a pioneer in attracting a previously untapped segment. Users can access two trading bots and spot trading for 75 tokens. A transparent, ethical framework is offered to them that adheres to Islamic values. Key features of these accounts include fee transparency and the segregation of client funds. It ensures compliance with Islamic principles. 

I believe the timing of this launch couldn’t be better. The market prepares for an upcoming bull run, and attracts new customers. With this move, Bybit employs the potential to attract a wave of new users and promote the mass adoption of cryptocurrencies further in this way. 

Bybit is tapping into a rapidly expanding market. The global Islamic economy serves 1.9 billion Muslims, while the Islamic finance sector is currently valued at approximately $2.3 trillion. Experts assure that the market has enormous growth potential, mainly in regions like the Middle East, Africa, and South Asia.

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