Crypto.com and Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, have announced a landmark partnership to integrate blockchain technology with Sharia-compliant financial services.

According to a press release, the Memorandum of Understanding (MoU) was signed by Mohammed Al Hakim, CEO of Crypto.com UAE, and Musbah Al Qaisi, Chief Digital Officer at DIB. The partnership aims to enable seamless integration of Crypto.com’s app and card services within DIB’s digital ecosystem, allowing customers to use cryptocurrencies for payments through the bank’s channels while maintaining compliance with Islamic principles.

Key focus areas include facilitating the use of digital currencies for transactions across DIB’s systems, exploring blockchain-based tokenization of Islamic bonds (sukuk), and offering custodial solutions alongside over-the-counter (OTC) trading tailored specifically for DIB customers.

“This partnership opens new avenues for digital finance while respecting the values of Islamic banking,” said Mohammed Al Hakim. “We’re working to bridge the gap between traditional and modern financial services in a responsible way.”

Reflecting on the broader vision of the collaboration, "Musbah Al Qaisi" highlighted the importance of the collaboration, stating, “Our work with Crypto.com reflects our commitment to integrating innovative technologies with Islamic finance. By tokenizing assets and developing secure solutions, we are preparing for the future of Sharia-compliant banking.”

The collaboration underscores the UAE’s position as a global hub for Islamic finance and emerging technology, and it follows recent expansions by Crypto.com in the region, including the launch of an AED wallet and the securing of regulatory approvals, further signaling the growing alignment between blockchain and traditional financial systems