Sidra Bank, the first cryptocurrency platform with a religious affiliation, is a platform for investing in digital assets. With Sidra Bank, the Muslim Community Will Engage in Digital Investment While Adhering to Moral Precepts.
Though anybody can trade in digital assets on the platform, Muslims are more favored as the platform is built in conformity with Islamic teachings.
The first decentralized Islamic financial platform built on blockchain, Sidra Bank, is located in Sidra, Saudi Arabia.
Benefit to Non-Muslim users
The digital bank offers a currency trading platform that ensures adherence to Islamic standards and is driven by cutting-edge technology with the goal of assisting both Muslims and non-Muslims. Sidra Bank provides major advantages for non-Muslims through loans with 0% interest.
According to it’s white paper, Sidra Bank aims to create a currency trading platform using cutting-edge technology as an alternative to those found in other trading platforms, and offer options that are morally acceptable rather than illegal or dubious, like the Lever Financial, mortgage lending, borrowing, and other Islamic alternatives.
Mining Sidra Coin which is the native token of the Sidra Bank will officially end September 2023 while it’s mainnet will be debuted the following month, October 2023. Speculated prices of 1 Sidra Coin ranges from $525 and below. Other price about Listing
Sidra bank Announces Plans To List Sidra Coin (SDRA) On Major Cryptocurrency Exchanges And Launch Of DEX
This strategic move is poised to make SDRA more widely accessible to a diverse array of traders and investors. The team is currently engaged in the meticulous process of selecting exchanges that align with their stringent criteria for security, liquidity, and regulatory compliance.
In addition to the listing on major exchanges, Sidra bank is actively developing its decentralized exchange (DEX). DEX operates without a central authority, allowing users to engage in direct peer-to-peer cryptocurrency transactions without intermediaries. The upcoming launch of Sidra bank’s DEX will empower traders to seamlessly swap SDRA for other cryptocurrencies and stake their SDRA to earn rewards.
The Sidra bank community will play a pivotal role in determining which exchanges SDRA will be listed on. A community vote will be conducted, ensuring that the choices align with the collective preferences and needs of Sidra bank users.
About Sidra bank
Sidra bank stands as a decentralized finance (DeFi) project dedicated to simplifying cryptocurrency usage through a suite of innovative products and services. Positioned as the first cryptocurrency platform with a religious affiliation, Sidra Bank caters to digital asset investment within the framework of Islamic teachings. While open to all users, the platform is especially accommodating to the Muslim community, aligning with ethical principles.
As outlined in its white paper, Sidra Bank envisions creating a currency trading platform using cutting-edge technology, providing morally acceptable alternatives to conventional trading platforms. This includes steering clear of practices such as Lever Financial, mortgage lending, borrowing, and other options deemed illegal or dubious.
The announcement of SDRA’s listing on major exchanges and the impending launch of Sidrabank’s DEX signal a period of expansion and increased accessibility for the project, reinforcing its commitment to providing ethical and user-friendly solutions in the cryptocurrency space. Read more
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