Stellar Becomes First Cryptocurency Approved by the Sharia Law

Home / Stellar Becomes First Cryptocurency Approved by the Sharia Law

On July 17, The 7th largest cryptocurrency, XLM, has received Sharia compliance certification issued by the Shariyah Review Bureau and integrated with Middle Eastern financial firms. This means that Stellar network is now permitted to service financial institutions that require compliance with Islamic financing principles. The Sharia certification extends to applications and use-cases for Lumens (XLM), Stellar’s native cryptocurrency. By using lumens, users in the Middle East and Southeast Asia will have access to more affordable payment remittance channels when sending money across borders.

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