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Binance, the world's largest cryptocurrency exchange, has introduced Sharia Earn, the first multi-token staking platform that complies with Sharia law and has been approved by Amanie Advisors. This is Binance's first official step into Islamic finance, which is valued at $4 trillion.
Sharia Earn enables Muslim investors to participate in decentralized finance (DeFi) while adhering to Islamic principles. This solves the long-standing issue of complying with religious rules when investing in Bitcoin.
Introduction to Sharia Income
Sharia Earn works with Binance Earn's existing infrastructure and supports major cryptocurrencies like BNB, ETH, and SOL. The platform operates on a Wakala-based approach , meaning Binance acts as an agent, managing the assets but not guaranteeing a fixed return.  This aligns with Islamic finance standards, and some of its key features include:
Halal Compliance: Amanie Advisors has certified it based on AAOIFI criteria; therefore, it has no connection with riba (interest), gharar (extreme uncertainty), or haram (forbidden) businesses such as gambling or alcohol.
Supported Tokens: Users can stake BNB (Simple Earn Locked Products), ETH, and SOL (Liquid Staking), and they earn daily halal rewards in their Spot Wallet.
Flexibility: Users can withdraw their staked assets early, but they may lose any incentives they have earned, which gives them control and transparency.
This platform ensures that all funds are channeled to halal businesses, which is in line with the idea of risk sharing and wealth circulation.
Worldwide Reach and Access
Sharia Earn is now available in over 30 countries, including Saudi Arabia, the UAE, Pakistan, Indonesia, and Egypt, all of which are significant Muslim markets. Binance aims to make it easier for people to use blockchain technology and Islamic financing. 
There are promotional initiatives to help launch the platform; for example, there's a $100,000 USDT giveaway through the leaderboard and referral program, but you'll need the latest version of the Binance app to participate.
Impact on Islamic Finance and Crypto
Sharia Earn represents a major step towards financial inclusion, enabling Muslim investors to participate in DeFi without violating their religious beliefs. The Islamic banking market is worth over $4 trillion, but many people are reluctant to use crypto due to regulatory compliance concerns. 
Binance's project, which is rigorously vetted by Sharia, fills this gap and could unlock billions in halal digital assets. "This is more than just a product," said CEO Richard Teng. "This is a movement towards a fairer and more principled digital economy."
Problems and What Will Happen
Sharia Earn sets new standards for halal crypto investments, but issues remain. Some experts say crypto is not permissible in Islam due to its excessive risk.
Binance is helping this by using a clear, Sharia-compliant architecture, but more people need to learn about it for it to gain wider acceptance. In the future, token offerings may expand, and new DeFi products may be added. This could transform Islamic finance by leveraging blockchain transparency.
Binance's Sharia Earn is a pioneering combination of Islamic finance and blockchain technology, providing Muslim investors with a legal way to earn passive income through crypto staking. Binance is transforming the crypto landscape for Muslims worldwide by prioritizing transparency, ethical investing, and accessibility. This will help make the digital economy more accessible to everyone.
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Litecoin was trading at $112.53 by 2:33 AM (19:33 GMT) on the Investing.com Index on Saturday, up 10.16% for the day. That was its biggest one-day gain since July 19.
This surge has pushed Litecoin's market cap to $8.03B, or 0.21% of the total cryptocurrency market cap . At its peak,  Litecoin's market cap  was $25.61B.
Litecoin has traded in a price range of $99.76 to $112.53 in the previous 24 hours.
Over the past seven days, Litecoin has risen, gaining 13.88%. Litecoin's traded volume in the past 24 hours, as of the time of writing, was $917.16 million, or 0.63% of 
the total cryptocurrency volume. The price has traded in the range of $91.3166 to $112.5342 over the past seven days.
At its current price, Litecoin is still down 73.21% from its all-time high of $420.00 on December 12, 2017.
Elsewhere in cryptocurrency trading
Bitcoin was last at $117,916.3 on the Investing.com Index, up 0.49% on the day.
Ethereum was trading at $3,563.04 on the Investing.com Index, up 0.46%.
Bitcoin's market cap was last valued at $2,344.89B or 60.94% of the total  cryptocurrency market cap , while  Ethereum's market cap  reached $429.97B or 11.17% of the total cryptocurrency market value.
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