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Binance launches Sharia-compliant crypto staking product, eyes Middle East growth

Image: Getty Images Binance has launched what it calls its 'most meaningful product yet' – Sharia Earn , a fully certified Sharia-compliant crypto staking product aimed at providing Muslim users with halal investment opportunities. The announcement was made during the Binance Square Webinar by CEO Richard Teng. The new solution allows users to earn staking rewards on selected crypto assets, starting with BNB and Solana, while complying with Islamic finance principles. It represents Binance's first step into the world of Islamic finance and is seen as a critical move to bridge the gap between digital assets and Sharia-compliant financial products. Speaking at the launch, Binance CEO Richard Teng called the moment 'defining' for both Binance and the broader crypto community. 'Today, we are very proud to introduce Sharia-compliant staking solutions for BNB and Solana designed to meet the needs of Muslim users worldwide,' said Teng. 'A truly inclusive financial system must respect the values and needs of every community, and that's the vision behind Sharia Earn.' He added, 'Islamic finance's core tenets—transparency and shared prosperity—are universal, and they are the same values that drive everything we build at Binance.' The product is live across 30 markets including South Asia, Central Asia, the Commonwealth of Independent States (CIS), Indonesia, and Turkey. Expansion into other Muslim-majority markets is already in the works. Read: Bader Al Kalooti, who heads regional operations and growth for Binance in the MENA region, highlighted that the demand for halal investing solutions has been persistent across community engagements. 'There's a clear, clear demand from the Muslim community for halal investing opportunities. It's been raised in multiple community meetups everywhere we go around the region,' said Al Kalooti. 'Crypto adoption has increased drastically across many of the Muslim-majority markets, but until now, certain yield-generating products have remained out of reach. We built Sharia Earn to change that.' The product has been certified by Amani Advisors, a globally recognised Sharia advisory firm. Each supported token under the product is reviewed, screened, and certified to ensure it aligns fully with Islamic principles. 'We maintain compliance through a structured Sharia governance framework led by Amani Advisors,' explained Al Kalooti. 'We have ongoing screening, quarterly reviews, and independent Sharia audits from Amani to ensure that we're on track.' Sharia Earn From a technical standpoint, Sharia Earn begins by supporting BNB and ETH-based tokens, with reward mechanisms built on protocols deemed halal. BNB staking rewards are distributed daily at a variable rate, typically in additional BNB, while ETH and Solana users will receive wrapped versions—WBETH and BSOL—that increase in value over time as rewards accrue. Al Kalooti noted that the selection process was 'rigorous' and underscored Binance's commitment to ensuring that all staking rewards are generated solely through halal-based transactions and activities. Beyond retail users, Binance believes the new product will attract significant interest from institutional players in Islamic finance markets. 'From a business perspective, there's also a significant opportunity—whether it's from a retail angle or from institutions,' Al Kalooti said. 'Binance has over 25 million users in key markets. Less than 3 per cent of them currently use Earn products. So that's a huge gap we plan to address with Sharia Earn.' The product aligns with Binance's broader financial inclusion strategy and comes at a time when Islamic finance is gaining traction in global fintech circles. With this launch, Binance becomes the first global crypto exchange to offer a certified Sharia-compliant staking product, signaling a larger ambition to tap into the rapidly growing Islamic finance segment, especially across the Middle East and Southeast Asia. 'This launch marks a new chapter—one where crypto meets Islamic finance, not as an exception, but as a natural evolution,' said Teng. The product has now gone live on the