Crypto meets Islamic finance: Binance introduces Sharia Earn

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of Sharia Earn, a new blockchain-based earn product designed to comply with the principles of Islamic finance.…

The move marks Binance’s first formal entry into Sharia-compliant digital finance, and is being positioned as a step towards greater financial inclusion in the crypto space.

The product has been officially certified by Amanie Advisors, a globally recognised Sharia advisory firm, ensuring that the offering aligns with Islamic investment guidelines. Sharia Earn enables users to earn passive income through Islam-approved staking of major cryptocurrencies, including BNB, ETH, and SOL.

Binance said the launch responds to a long-standing gap in the market. Although the Islamic finance sector is valued at over $4 trillion globally, many Muslim investors have remained cautious about participating in decentralised finance due to religious compliance concerns.

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The new product is designed to offer a transparent, values-based alternative, with built-in mechanisms to ensure compliance with prohibitions on riba (interest), gharar (excessive uncertainty), and investments in non-Sharia assets.

Sharia Earn is initially being rolled out in 29 countries, including the UAE, Saudi Arabia, Qatar, Egypt, Indonesia, Pakistan, and others across the Middle East, North Africa, and South Asia. The UAE’s growing crypto-savvy population and its supportive regulatory environment make it a key market for Binance’s Islamic finance ambitions.

According to Binance CEO Richard Teng, the launch of Sharia Earn is more than a new product. “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,” he said.

Built on the infrastructure of Binance Earn’s existing staking products, the platform has been reviewed and approved under a Wakala agreement, a structure commonly used in Islamic finance. This ensures that all funds are only deployed into Islam-compliant activities.

While blockchain technology has disrupted traditional finance with decentralisation and transparency, Sharia finance brings its framework of ethical investing, focusing on socially responsible, interest-free structures that promote risk-sharing and equitable wealth distribution.

(Gulf News)