Islamic Gitcoin to invest in projects across Asia

GLOBAL: Gitcoin, billed as the world’s first Islamic Economic Rights Token, was introduced by Gulf Asia Shariah Compliant Investments Association as a digital token representing some rights to projects or activities across Asia, with early focus on large-scale Chinese provincial projects. As Singapore’s first Islamic token, licensed under the Registry of Societies, the issuance of 100 million ERC-20 tokens – the most common type of cryptocurrency token built on the Ethereum blockchain – is priced at US$0.10 each. An initial circulating supply is capped at 30 million tokens, with unsold tokens either reserved for future project funding, ‘burned’ or removed from circulation.