Pro Islamic blockchain-based banking platform Hada DBank, has announced a strategic partnership with popular OTC exchange broker Secure Coin Brokers (SCB), with numerous exchange listings hinted to be in the works.
There are diverse financial instruments and digital assets existing on the blockchain. Set to be headquartered in Switzerland, the Hada DBank is a blockchain-based project founded upon the tenets of Islam. The need for an Islamic banking niche on the blockchain was to ensure that Muslims can fully tap into the full potential of cryptocurrency and blockchain technology without any compromising on their faith.
The blockchain part of the platform provides security and transparency, while the Islamic Banking module ensures that ethical banking and investment procedures are duly maintained. Hada DBank’s core values are built around caring for their clients first and unlike regular banks, they are less concerned about making profits.
For some months now, the platform has been under development with the team members working diligently towards the imminent launch of their blockchain platform. While these preparations were in the works, some of the essential updates rolled out included an improvement to the HADACoins – the native token of the platform, which saw significant security features upgraded in line with the ERC-20 protocol.
Another important milestone achieved by Hada DBank is a partnership with OTC Secure Coin Broker (SCB). SCB is an over the counter exchange that facilitates digital asset trading and settlement, dealing in both large and small block trade sizes of up to USD $250,000 and above.
The SCB platform provides OTC services to both private and institutional clients and is currently available in over 67 countries and with over 319 customers served so far. SCB also offers turn-key white label software solutions for ICOs, STOs, exchanges and institutional financial operators.
With regards to the new found partnership, Michael Buchbinder, Partner at the Secure Coin Broker, stated:
“Secure Coin Broker is looking forward to working with Hada DBank and its clients offering them quick and easy ways to acquire or liquidate their digital asset holdings.”
The Hada DBank team are currently pushing for more credibility scores, and one of those moves involves the acquisition of a European Union (EU) banking license that enables them to operate in any EU member state. Within 6 months, the platform should know their definite stand with an approval status from the European Central Bank (ECB).
Although their HQ will be located in Switzerland following an approval of the EU Banking License, however, other relevant markets will include the Middle East and North Africa which will be focused on within the last quarter of 2018 and the first quarter of 2019. They are currently making developmental plans to establish an area office within the region.
Another market of interest will be the ASEAN market where it will make its base in Indonesia, serving a host of over 227 million Muslims in the immediate region. This will accord it the opportunity to grow its business and penetrate the ASEAN market fully.
Other developments will include partnerships with universities, where certified fintech programs will be introduced to train students on blockchain products.
More so, a design of an expansion plan to last a period of 24-months has been developed to expand the reach of Hada DBank to other sharia-compliant regions.
Further, a HADA Exchange will also be an important milestone which will be incorporated into their fintech hub around the ASEAN region.