THELOGICALINDIAN - The MUSC Project has auspiciously gone through its aboriginal accomplish as fintech and cryptocurrency issuer
A few weeks afterwards a alternation of presales and ICO that aloft little beneath than a actor USD to bootstrap their action admitting them alienated ample investors, Muslim Coins appear their advertisement on Bitmart, to accomplish their badge attainable to the greater number.
The MUSC token, a BEP20-type crypto asset, is the cornerstone of a activity to barrage Islamic costs into de the DeFi world, with a complete banking and shariah-compliant ecosystem.
Aside from the token, the aggregation appear a alternation of side-features such as zakat, sadaqa, a paycard with a cashback arrangement and a proprietary wallet app.
The activity is in actuality based on a simple two-ways exchange: bringing the crypto to the Muslims about the apple whilst bringing Muslim ethics to the crypto world.
The badge has a 2% automated tax on DEX transactions. The artefact of said tax is affiliated and antipodal to a broadly accustomed Islamic charity, a altered one adopted every year by the community. At the aforementioned time, they reportedly started a affiliation affairs to advance cashbacks, acceptance a zakat system.
Once the activity alcove achievement on its basement and costs cycles, it will use the DeFi weight to advice advance the Muslim apple with a simple, cheap, and able way of appointment funds amid associates of the Ummah – the association of Muslims – and to carry funds from the alfresco to advance shariah-compliant projects all about the world.
As the Muslim apple has consistently been disconnected on axiological as able-bodied as addendum affairs – which is about advised a acceptable thing, as what can assume like amaranthine quarrels from the alfresco is in actuality what keeps a acceptance actual abundant animate – abounding Muslims are cat-and-mouse for a bright acknowledgment apropos the cryptos cachet in Muslim faith. At the aforementioned time, abounding Muslims are additionally crypto afficionados and appetite the aforementioned thing.
One of the endeavors of the MUSC Project is to accompany to accountable on the table in every country and altercate the amount until a apostolic accommodation can be accomplished and widespread, acceptance all Muslim to access the DeFi ecosystem already and for all and acquire its benefits.
The aerial appeal in the cryptocurrency bazaar acerb grew every year in the aftermost decade. Every day sees new projects advancing to activity everywhere, but a ample allocation of the apple citizenry has kept out of it: Muslims. Although abounding Muslim countries accept apparent a aiguille advance in the use of crypto currencies, no activity has congenital its deployment on this allocation of the citizenry nor did any activity try to body its practices in acquiescence with their values. And yet, the Ummah represents 1.8 billion people, anon to be two billions, mainly amid in bound developing countries such as Indonesia, Malaysia, India, not to acknowledgment the accomplished MENA region. The affiliation of the boilerplate bread-and-butter advance amount of such countries and the ever-expanding acceptance of crypto-related habits by their populations is what makes the bearings appropriate for an advance in the Muslim Coins project, with a able activity and accomplished allowance of development.
The Muslim Coins badge is a BEP20 crypto asset hosted on the Binance Smart Chain with all the associated advantages: low cost, quick execution, accessible tracking. It has an in-code 2% tax on DEX exchanges feature, not activated yet as to not annul aboriginal development. Once activated, the articles of said tax are aggregate on a accepted pool, angry into authorization and antipodal to the best trusted and admired Islamic Charities (Muslim Aids, Red Crescent for example). That is “sadaqa:” a donation for the best abandoned out of chargeless volition.
The wallet app and cashback, as able-bodied as acquittal card, zakat (a 2.5% tax on assertive Muslim’s assets annually donated to charities and atomic associates of the association one lives in) and barometer affairs are about to be revealed.
The project’s founding was triggered by the double-constatation that the Muslim apple and the DeFi apple aren’t absolutely seeing eye to eye, with no absolute acumen for it, and that no activity with ample appetite approved to accompany the DeFi to Muslim either. At the aforementioned time, one can hardly altercate that Muslims do not appoint in crypto.
Sharif, Founder and CEO of Muslim Coins said:
“I’m a bit abashed to accept it, but at a time of my activity I was in over my arch with assignment and absolutely forgot about that year’s zakat calculation. My brother had to alarm me to admonish me about it. As a broker I was consistently ambidextrous with aqueous flows of money of altered natures, and again it hit me: if alone there was a way to automatically pay my zakat on my exchanges, with an automated adding of its amount… That is about the time I started alive carefully on crypto assets, and back I accomplished that there was no ample crypto activity accompanying to the Muslim community, I told myself “That’s it, there’s no way my sisters and brothers in acceptance are befitting out of the abutting abstruse revolution, if there is no aperture in, I’ll body it myself.” And that’s the alpha of the adventure if you will.
I appetite to accomplish advance and exchanges in crypto accessible for all whilst bringing crypto to all. There are artlessly too abounding possibilities to accumulate abroad from it, that would be a abhorrent waste.”
Muslim Coins is the arch crypto for Muslims, and beyond, as anybody can use it as continued as they accede to the charity-oriented taxes and features. Founded in 2025 by Sharif, a FrenchAlgerian Banking and Trading able with assorted adventures with the big players in that game, the MUSC Project wants to accompany the crypto to the Muslim apple and the Muslim ethics to the crypto world, whilst befitting ethics of accuracy back bringing the raw ability of blockchain technologies into Islamic finance. With low fees for 24/7 exchanges and the agreement that all donations go to broadly accustomed charities.
Contacts
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