Islamic Coin, the Shariah-compliant crypto, has raised $200 million from Alpha Blue Ocean’s ABO Digital, bringing its total funding to $400 million. This investment sets a new record in the crypto space, surpassing the funding secured by Circle, BlockFi, and Solana.

Islamic Coin aims to cater to the 1.9 billion Muslims worldwide and has garnered recognition from international leaders and institutions. The partnership with ABO Digital will introduce Islamic Coin to its network of investors and help structure innovative Shariah-compliant financial products for the digital asset space.

The deal provides access to a maximum of $200 million, ensuring a stable runway for Islamic Coin. ABO Digital’s CEO, Amine Nedjai, expressed excitement about collaborating with Islamic Coin and hailed its ambition to revolutionize the Shariah-compliant market. The partnership with DDCAP Group will further enhance Islamic Coin’s offerings by integrating with over 300 global Islamic banks.

Islamic Coin’s co-founder, Mohammed AlKaff AlHashmi, emphasized their commitment to building a platform that combines ethics and the traditions of Islamic Finance with traditional systems. The Advisory Board already includes influential figures from the Abu Dhabi and Dubai Ruling Families, as well as prominent individuals from the traditional and Islamic finance sectors.

Islamic Coin is also planning to be listed on exchanges soon. ABO Digital, the digital asset investment arm of the ABO group, offers PIPE financing to publicly listed companies globally and has executed over $2 billion in financing commitments in the past five years.