The decentralized Islamic finance (DeFi) ecosystem is in constant evolution. Recently, Naquib Mohammed, CEO of MRHB DeFi, shared information about two significant projects under development that may be of interest to Sahal Wallet users and the broader Muslim crypto community. These include a neobank project specializing in Islamic stablecoins and the integration of a Dollar Cost Averaging (DCA) feature within Sahal Wallet.
This article aims to factually analyze these two announcements, explain their practical benefits for users, and assess their potential impact on the MRHB ecosystem.
Project 1: Across Payment Network, a Neobank for Islamic Finance
The first project, named Across Payment Network, is an ambitious initiative to bridge traditional finance with halal decentralized finance. According to a working paper shared by the CEO, this project would be a joint venture between MRHB Network (the Singapore-based entity behind Sahal Wallet) and Algbra, a UK-based fintech regulated by the FCA (Financial Conduct Authority) [1].
The idea is to integrate into the Sahal Wallet, a traditional banking pillar: provided by Algbra, this would offer standard neobank services like multi-currency accounts (GBP, USD, AED), debit cards, and international money transfer (remittance) services.
Concrete Benefits for the User
If this project comes to fruition, it could really simplify users' financial lives by allowing them to:
- Manage their traditional finances and crypto assets in a single application.
- Easily transfer funds between their bank account and their crypto wallet.
- Use a debit card for daily expenses, potentially linked to their digital assets.
The CEO of MRHB sees a significant market opportunity, as he noted in one of his communications: "An opportunity is presenting itself for the world's first Islamic stablecoin neobank. The first mover will have the largest market share. Let's act fast."
This quote highlights a clear intention to quickly establish a position in a market estimated to be worth several hundred billion dollars, particularly in the international remittances sector.
| Advantage | Description |
|---|---|
| Simplicity | A single application to manage both bank accounts and crypto wallets. |
| Fluidity | Instant transfers between fiat currency and cryptocurrencies. |
| Accessibility | A gateway to DeFi for users of traditional banking services. |
| Compliance | An ecosystem designed to be compliant with the principles of Islamic finance. |
Project 2: Automated DCA in Sahal Wallet
The second announcement concerns a feature highly anticipated by long-term investors: Dollar Cost Averaging (DCA). This is a strategy that involves investing a fixed amount at regular intervals (e.g., 50€ every month) to smooth out the entry price and reduce the impact of volatility.
The MRHB CEO indicated that a partnership is underway with the Hodl Burger team to integrate this functionality directly into Sahal Wallet. "By the way, the Hodl Burger team is developing an integrated DCA feature. Since it will be launched within Sahal Wallet, we will also benefit from it. I am very excited for them; we will see how it turns out," he specified.
The Value of an Integrated and Halal DCA
Integrating DCA into Sahal Wallet would offer a unique dual advantage:
- Automation: Users could schedule their recurring purchases without needing to actively manage them, promoting disciplined investing.
- Shariah Compliance: The DCA would be combined with Sahal Wallet's Halal Screener, ensuring that only assets deemed compliant are purchased automatically.
This is a combination not currently available in any other crypto wallet and addresses a specific need within the Muslim community: to invest for the long term in an ethical and automated manner.
A Financial Ecosystem Under Construction
These two projects, if brought to completion, are not independent. They outline the framework of a comprehensive and coherent financial ecosystem:
- Across Payment Network would serve everyday needs: receiving a salary, paying bills, sending money to relatives.
- Sahal Wallet, with its future DCA function, would be used for long-term wealth building: saving and investing in a disciplined manner in compliant digital assets.
This integrated vision could offer a credible alternative to traditional financial systems for users committed to upholding the principles of Islamic finance.
What is the Potential Impact for MRHB?
It is still too early to draw definitive conclusions, but the successful execution of these projects could positively impact the MRHB ecosystem. By becoming a central player in digital Islamic finance, the MRHB startup could see its valuation increase.
Regarding the MRHB token, its utility could be enhanced within this expanded ecosystem, which could potentially influence its price. However, this remains speculative and will depend on the projects' execution and market adoption.
Conclusion: Promising Projects to Watch Closely
Far from the exaggerated claims often heard in the crypto space, the two projects under development at MRHB appear to address real and concrete needs. The creation of a halal neobank integrated with a non-custodial wallet and the addition of a programmed investment feature are significant steps forward.
For the Crypto P2P Club community, whose philosophy is "Learn, Hold, Share," this news is particularly relevant. It shows that tools are being developed to enable participation in the digital economy while respecting our values.
It will be important to closely monitor the progress of these projects, their execution, and their adoption. If they deliver on their promises, they could well represent a major milestone for Islamic finance and the financial sovereignty of Muslims worldwide.
References
[1] "Across Payment Network: The Future of Islamic Finance" working document, shared by the CEO of MRHB DeFi.