Binance, the global blockchain ecosystem behind the world’s largest cryptocurrency exchange Bitcoin, has introduced Sharia Earn, a product aimed at building a more inclusive financial future in accordance with Islamic principles. Officially certified by Amanie Advisors, a globally esteemed Sharia advisory firm, Sharia Earn is the first multi-token staking service designed to comply with the principles of Islamic finance, thereby opening new avenues for halal investing on a global scale, according to a recent statement.
The Islamic finance market exceeds $4 trillion, yet millions of Muslims have been excluded from the decentralized finance movement due to uncertainties surrounding religious compliance. Sharia Earn addresses this gap by offering a transparent, values-driven approach for the global Muslim community to earn passive income in cryptocurrency.
This marks Binance’s inaugural entry into Islamic finance and reflects its commitment to innovation that respects cultural and spiritual values. Launching with BNB, ETH, and SOL, the platform provides a Sharia-compliant earning product that allows users to generate yield while adhering to faith-based principles.
Halal guidelines in cryptocurrency
Richard Teng, CEO of Binance, stated, “Our mission has always been to create an inclusive and transparent trading environment. With this product, we’re empowering the Muslim community and Sharia-focused investors to participate in one of the most exciting financial revolutions of our time. This is more than a product – it’s a movement toward a more principled and equitable digital economy that promotes financial freedom for all.”
Sharia Earn symbolizes the intersection of two financial systems: Islamic finance and blockchain technology. While cryptocurrency challenges traditional finance through decentralization, Islamic finance does so through halal guidelines—principles such as risk sharing, wealth circulation, prohibition of interest (riba), and excessive uncertainty (gharar).
Certified by Amanie Advisors, the product guarantees that all deployed funds are directed toward ventures and assets deemed halal (permissible) under Islamic law. Initially available in select markets, this platform sets a new standard for halal cryptocurrency investing through its emphasis on transparency and compliance.
Sharia Earn will initially be accessible to users in the following countries: Afghanistan, Algeria, Bangladesh, Bhutan, Egypt, Indonesia, Iraq, Jordan, Kuwait, Lebanon, Libya, Maldives, Morocco, Nepal, Oman, India, Pakistan, Palestinian territories, Qatar, Saudi Arabia, Sri Lanka, Sudan, Tunisia, Turkey (.com), United Arab Emirates, Yemen, Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan, and Tajikistan.
Technology behind Sharia Earn
This initiative is built on the underlying technology from Binance Earn’s existing BNB Locked Products, along with ETH Staking and SOL Staking, with the mechanisms of each having been reviewed by Sharia scholars and deemed suitable for Islamic users through the purpose-fit Wakala agreement, according to the announcement.
Meanwhile, Bitcoin saw an increase on Thursday but remained below the record high of nearly $112,000 it briefly reached a day earlier, as profit-taking and renewed U.S. tariff concerns dampened investor enthusiasm.
The world’s largest cryptocurrency rose by 2.1 percent to $110,961.70 as of 01:48 ET (05:48 GMT). It had briefly surged to an all-time high of $111,988.20 on Wednesday, but some gains were lost as investors booked profits at record levels. The cryptocurrency is currently trading above $110,920.
This milestone arrives amid increasing allocations from institutional investors, including entities moving Bitcoin into treasury portfolios and ETFs managed by major asset managers. Corporate treasuries continue to accumulate Bitcoin aggressively. Strategy Inc (NASDAQ:MSTR) remains the most prominent, but newer entrants like GameStop Corp (NYSE:GME) have announced board-approved Bitcoin purchases.
Read more: Bitcoin price today holds above $107,000 as investors watch for U.S.-China trade talks
Trump Media files for Crypto Blue Chip ETF
Earlier this week, Trump Media (NASDAQ:DJT) filed with the U.S. Securities and Exchange Commission to seek approval for a new “Crypto Blue Chip ETF” slated for launch later this year. The company has already applied for two ETFs earlier this month.
These structural tailwinds, including ETF inflows, corporate treasury expansion, and supportive U.S. policies, have enhanced Bitcoin’s appeal as an institutional-grade asset. Despite remaining range-bound in recent sessions, Bitcoin experienced a breakout on Wednesday. However, trade concerns ahead of an August 1 tariff deadline have limited price gains.
Looking ahead, investors are also focused on “Crypto Week” starting July 14, when U.S. lawmakers in Washington are expected to advance at least three major bills aimed at regulating digital assets.
President Trump announced a 50 percent tariff on copper imports, effective August 1, and raised “reciprocal” tariffs on Brazil to 50 percent from 10 percent. Meanwhile, uncertainty regarding the Federal Reserve’s rate outlook has further tempered crypto gains. Just a few Fed officials at the June 17–18 meeting supported a rate cut this month, while most expressed concerns about inflation risks resulting from Trump’s tariff-driven trade policy, according to the minutes released on Wednesday.
Bullish crypto market in UAE
Connecting the bullish crypto market with its rising adoption in the UAE, eVijay Valecha, chief investment officer at Century Financial, told Economy Middle East that global crypto markets are currently euphoric, with participants closely watching the ongoing rally in Ethereum as a sign of positive times ahead for the entire blockchain space. Bitcoin has surged and continues to lead the market. However, Ethereum’s rise could herald a broader bullish trend for the entire blockchain ecosystem, as the protocol accounts for nearly 50 to 55 percent of blockchain and DeFi developer activity.
For crypto investors, the focus is now on validating whether actual underlying use-case adoption has occurred. In this context, the role of the UAE and its significant private and sovereign entities provides crucial insight into how blockchain use case adoption could increasingly support the crypto space in the future, Valecha emphasized.
“When it comes to the digital and blockchain domains, one central sticking point, especially for emerging market economies with vast populations, is how seamless the integration will be into the core and physical economy. The UAE has a relatively small population compared to its larger peers in Southeast Asia. However, the demographics of the UAE are more diverse and profound than those of any significant emerging peers. Therefore, it is essential to understand the major blockchain use cases that have been announced and implemented by the nation.”
