New Certificate Empowers Businesses to Support Islamic Finance and Crypto Clients
Key Highlights
- Carbon Market Exchange Ltd. secured a Certificate of Shariah Compliance from Shariah Experts for XCO2.
- The one-year certificate validates the company’s XCO2 token and demonstrates its alignment with Sharia principles.
- Carbon Market Exchange is now optimally positioned to support Islamic finance and crypto customers.
LANSING, Mich., September 22, 2022 /PRNewswire/ — Carbon Market Exchange Ltd., a global leader in bringing together climate action and the financial industry to make international climate targets more accessible, announced today that it has received a certificate for its XCO2 token from Shariah Experts Ltd that confirms its alignment with Sharia principles. The one-year certificate confirms the company’s unique XCO2 token. The NFT Sharia certification can be viewed here.
“It is a true honor to be guided by Sharia principles and this vote of confidence from such a renowned consultancy will help us make a huge impact for many new clients in the region,” said Carbon Market Chief Executive Officer Exchange Shenna Fortner.
Shariah Experts Ltd conducted groundbreaking research on carbon offsetting and blockchain-based tokens from an Islamic law perspective. All aspects of XCO2 including its type, issuance, redemption, use and underlying source have been thoroughly analyzed to ensure a high standard of quality. If the results were positive, Shariah Experts Ltd issued the certificate in the form of a non-fungible token (NFT).
“Carbon Market Exchange does amazing things for the environment, and we’re excited to award this certification to ensure more customers can benefit from the good they do,” said Shariah Experts Co-Founder and Director Dr Farrukh Habib. “Islam forbids wasting resources and destroying the environment. He attaches great importance to environmentally friendly ideas and principles. The modern trends of sustainable environment and green economy are aligned with the teachings of Islam and Sharia. Therefore, projects like Carbon Market Exchange should be welcomed by the Muslim Brotherhood.”
Carbon Market Exchange Ltd has partnered with WEB3 experts to achieve its technology goals and meet international climate targets. The development of the XCO2 and CMX tokens took place on the Ethereum blockchain and the secondary scaling solution Polygon. With the recent merging from the energy-consuming proof-of-work model to the environmentally conscious proof-of-stake model, Ethereum now has a place in the conservation movement. The CMX NFT Certificates can be purchased through the Carbon Market Exchange Marketplace and then traded, held or retired to meet industry needs.
About Carbon Market Exchange
As the definitive leader in nature-based offset credit, Carbon Market Exchange Ltd is dedicated to bringing the financial industry and climate action together in a way that makes achieving international climate goals more accessible for businesses – and supports conservationists. Founded in 2021 by an elite group of environmentalists and financial executives, the company is now in The United States, BelizeUnited Arab Emirates and Tanzania. In the first quarter of 2022, Carbon Market Exchange launched its nature-based, carbon-backed crypto token XCO2, which can be accessed via Ethereum. In Q4 2022, Carbon Market Exchange will launch CMX, its non-fungible token (NFT), to provide a certificate of authenticity for purchased carbon offsets. The company’s goal is to ensure that 30 percent of the planet is protected by 2030. Visit https://www.carbonmarketexchange.com/ for more information.
About Shariah Experts Ltd.
Shariah Experts Ltd was founded in 2020 by world-class Shariah scholars with more than 15 years of collective experience as the world’s first Halal consultancy dedicated to Blockchain, Crypto, Defi, NFTs and Metaverse based projects. Shariah Experts Ltd bridges the gap between Web3 innovations and the Muslim world with a primary focus on leading innovative ideas and technology-driven projects to comply with Islamic law (Sharia). While keeping an eye on the latest technological advances in the Halal economy, we have not lost sight of the traditional Islamic finance industry and Halal economy. We also meet the needs of our clients in various traditional sectors including Islamic Banking, Capital Markets, Sukuk, Takaful (Islamic Insurance), Fund Management, Zakat, Waqf, Execution of Wills and Inheritance. Visit us at: https://shariahexperts.com/
CONTACT: Lori Levin212-805-3013
[email protected]
SOURCE Carbon Market Exchange Ltd.
