The Stellar Foundation was certified as Stellar from the Shariyah Review Bureau (SRB). It is worth noting that at the moment, not a single crypto activity, it was not possible to obtain a certificate of compliance with Sharia law.
Stellar is the first distributed ledger protocol to receive Sharia compliance certification in the money transfer and asset tokenization space.
Read more: https://t.co/FYiRmGxt6y
— Stellar (@StellarOrg) July 17, 2018
For Stellar Lumens blockchain, this certificate means the possibility of expansion in markets that require conformity with Islamic principles: in countries of the Cooperation Council of the Arab States of the Persian Gulf (Bahrain, Kuwait, Saudi Arabia, Qatar, United Arab Emirates and Oman) and some countries in South-East Asia.
The XLM representatives also stated that during the next months it is planned to hold several meetings with delegates of global financial institutions. The purpose of the sessions will be to discuss the development of products and services based on the Stellar protocol, which correspond to the Sharia.