Huulk exchange, an affiliate of OneGram Group of Companies, is aiming to list around 20 Islamic fintech firms mostly from Muslim-dominant countries like Turkey and Malaysia.
Dubai-based OneGram Group’s Huulk is aiming to attract listings from Shari’ah compliant financial technology start-ups, a trend increasing among firms looking to modernise Islamic finance, reported Reuters.
Ibrahim Mohammed, the founder of OneGram, said that Huulk, has applied for a digital exchange licence in Malta and hopes to partner with several European exchanges in the coming weeks. The move will allow Huulk to host trades of digital assets as well as stocks and commodities and Malta’s Bianchi Holdings has been chosen as an equity partner in the exchange.
OneGram plans to list its own Shari'ah-compliant cryptocurrency on Huulk exchange by mid-September, having sold around $400 million in gold-backed tokens over the past year.