Luno officially announced that it is now offering Shariah-compliant Ethereum (ETH) staking. The offer by the crypto exchange makes Malaysia the first country to make such a service available to Muslim investors, ensuring that it aligns with Islamic values.
“Malaysia has been recognised as a hub for Islamic financial services following its success in pioneering Islamic banking. Today, with the Shariah-compliant certification of Luno’s Ethereum Staking, we are pleased to announce that Malaysia has once again pushed the envelope and is still at the forefront of shaping the Islamic financial services space.” Scarlett Chai, Country Manager of the crypto exchange, said. “With our Ethereum Staking now Shariah compliant and live, we see ourselves expanding our array of Shariah-compliance services and coins so everyone can invest with assurance.”
The company currently offers an annual reward percentage of up to 3% per annum on staked ETH but this will vary based on network conditions and the fact that cryptocurrency is volatile. Rewards are paid out every week, with customers allowed to stake as little as 0.00001 or RM1 to start earning rewards.
(Source: Luno)
