X8, a Swiss-based crypto project, said on Monday that it had obtained an Islamic finance certification from Shariyah Review Bureau (SRB), an international Sharia advisory agency licensed by the Central Bank of Bahrain. X8 will use the certificate to target investors from the Middle East with a focus on the Gulf region.

SRB conducted a review of X8 network, including its blockchain protocols, X8 cryptocurrency (X8C) and its Ethereum-based X8X utility token (X8X). A religious scholar analyzed X8’s application to see whether it follows the principles of Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI) – an international Islamic body that issues common Sharia standards for accounting, auditing, and management process.

The SRB certificate has s…

This article appeared first on Cryptovest

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