Islamic finance and cryptocurrency: convergence at last?

The explosive growth of the cryptocurrency market has been one of the key phenomena in both finance and hi-tech in the past few years. In January 2018, market capitalization exceeded $800 billion; and in spite of the recent downturn, experts predict that the industry will grow by over 30% a year, reaching an astonishing $6.7 trillion by 2025.

However, crypto has not quite taken over the whole world yet. Muslim majority countries where Sharia law plays an important role – including Saudi Arabia, Malaysia, UAE, Kuwait, Qatar, and Bahrain – still remain largely outside the Bitcoin revolution. According to research carried out by ADAB Solutions, only 0.2% of the population in the Muslim world are involved with cryptocurrency, while the overall global rate is around 1%.

Full article ( reuters ) : https://www.reuters.com/brandfeatures/venture-capital/article?id=62709