The Golden M Group has announced to launch a Sharia-compliant cryptocurrency in the Middle East called ‘COIN M.’ This cryptocurrency is expected to enter the United Arab Emirates (UAE) market before the end of 2019.
Investment can start as low as $100 and has an inclusive environment, so, investors from all income level will find it suitable. And unlike the first-generation cryptocurrencies, it is backed up by a tangible and ‘real-world asset’ which makes it less prone to the price volatility.
The Golden M Group, founder and CEO, Mustafaa Motiwala, stated:
The upcoming launch of Coin M will undoubtedly have a global impact as it is a one-of-a-kind scheme empowering the working class to safely invest in a new cryptocurrency that is gold-based and Sharia-compliant. Unlike most investment opportunities, investors will have a chance to double their investment within a year.
He also added,
Whenever you invest in COIN M, you are in a position to make your money back as it is based on a real asset, which can be bought back. With cryptocurrencies that are not backed by any asset, you would typically have to find your buyer to make a return on investment.
The ‘COIN M’ logo was also recently revealed at a press conference held on a private yacht in the UAE managed by Uniquorn Studio LLC. It was attended by as attended by the family, and friends and close advocates of Motiwala and his team, including Mukti Abu Bakar -Malaysian Consul for Investments, MIDA, UAE; Empress Universe 2018-Sneha Rao ; and Umar Saif, a popular Indian singer from Sa Re Ga Ma Pa Middle East, and a few more.
According to collective data, the UAE had emerged as the world’s capital for sales of digital currencies, accounting for more than a fourth of all funds raised in contributions this year by early April. Sales in the UAE had reached over $210 million which had put it way ahead of the US, the former and longtime leader of the market. That showcased the growing potential of the sector, and the influence UAE would have on the cryptocurrency market of the Middle East and the world.