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Ibrahim Mohammed, Founder of OneGram and the newly appointed CEO of digital asset exchange Huulk, visited the blockchain Island Malta and signed an MOU which will revolutionise the digital exchange space.

Huulk is set to become the first all-in-one or hybrid exchange merging traditional stock and commodity trading with the digital assets including Shari’ah compliant assets. Huulk also represents a platform for Shari’ah compliant ICOs making it an exceptional gateway for innovative Islamic finance.

The CEO of Huulk, Ibrahim Mohammed stated “currently we are in negotiations with major European stock exchanges that will partner directly with Huulk allowing us to be the first digital exchange to list fintech assets directly onto a Stock Exchange. We are also in talks with a number of commodities exchanges for pairing. The official partnerships will be announced in the coming weeks.

Huulk forms part of the OneGram Group, the first asset-backed physical gold backed Shari’ah compliant cryptocurrency that claims to have held the largest ICO of 2017 raising a record US dollars 450 million. OneGram Group will partner in Malta with Bianchi Holdings Limited headed by Michael Bianchi, a well-known tech investor. “We are excited to support and assist Huulk Europe as we have always backed innovative and state of the art technology projects that address specific needs and vacuums. Malta is the best location I can think of in Europe to bridge North and South and to host Shari’ah finance. It is Europe’s most southern border and Malta is, more than any other European country, culturally and historically attuned to both continents. OneGram will be a hugely important addition to the growing blockchain ecosystem in Malta (#blockchainisland)“ Bianchi said.

What is extremely interesting in the Huulk offering is the Shari’ah compliant ICO platform. The Islamic finance industry is a lucrative and IN demand sector which to date has had limited product supply and innovation. It is no secret that there are hundreds of Shari’ah compliant funds being enabled in the Middle East and Asia that are actively seeking to invest in fintech and disruptive technologies.

Malta’s junior Minister for Innovation and Technology, Silviio Schembri who has been instrumental with policies that are attracting leading fintech projects to Malta commented “We welcome Huulk to Malta and the diversity it brings. Islamic finance is a very interesting proposition for Malta and a clear opportunity exists in Europe with Malta best placed to host these companies. Our vibrant and diversified economy is open to all opportunities and we will certainly look forward to Huulk applying for the necessary licensing requirements within our regulatory framework.”

Malta wishes to position itself as a hub for Islamic finance firms and has recently, for that purpose, set up the Malta Islamic Finance Association. Legislation is currently being drafted that will permit Islamic financial institutions to benefit from stronger links to EU member states. It is estimates that there are currently $ 2 trillion of assets globally offered across markets spanning the Middle East, Africa, and Southeast Asia.

Whilst it is too early to say how this hybrid exchange will be seen by major fintech players, what is clear is that the fintech space is evolving on an almost daily and weekly basis.

  • Huulk will be the first of its kind Shari’ah compliant digital asset exchange that is a complete one stop solution for digital assets, stocks and commodities. Huulk has a Shari’ah compliant platform which supports innovative and disruptive Shari’ah based ICO’s. The Huulk team comprises of CEO Ibrahim Mohammed, Ladislav Pásztor, Roman Kučera, Patrik Kmeč, Roman Neczli supported by the team at Bianchi Holdings Limited.

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