OneGram, the world’s first Sharia-compliant cryptocurrency, a firm based out of the Emirate has decided to redefine the digital “gold standard” whose value is backed by actual gold reserves. Hailed as a Bitcoin alternative for the Islamic world, the news came out with the starting of the holy month of Ramadan for Muslims. The OneGram is eyeing to raise a total worth of $500 million against its OneGram token (OGC) worth 12 million.
In the recent press release, Ibrahim Mohammed, the CEO of OneGram said:
“We are very pleased with the early support for the OGC token crowd sale from the cryptocurrency and Islamic finance communities. More than 1,000 people have registered for GoldGuard accounts to participate, and the number is growing each day as we prepare to launch our crowd sale in alignment with Ramadan.”
Though, this is not something unheard of, as various efforts around a similar concept have been made. OneGram, unlike the others, has a huge potential in front of it, as it will appeal to a huge target population of devout Muslims who prefer to follow the Islamic laws.