Community-focused DeFi ecosystem MRHB DeFi is teaming up with Canadian venture capital fund Contango Digital Assets to expand its reach, offering and services beyond the crypto-fluent to excluded communities globally.

Contango has made a strategic investment into MRHB DeFi, and will work alongside the MRHB DeFi team, providing expertise and experience across a wide variety of areas. The partnership will also support collaboration with influencer marketing leaders in the blockchain space, Influx Group.

Faith-based, Excluded Communities, An Untapped Opportunity

The partnership is aimed at expanding the reach of MRHB DeFi beyond crypto-natives to engage new users and communities who are attracted to a more ethical and faith-based vision.

“It’s surprising to us that such an important part of the world has not been able to participate in DeFi opportunities yet. MRHB is opening an important door in the Muslim Community for people who wish to benefit from decentralized finance while remaining faithful to their beliefs. We’re thrilled to be a part of that.” – Contango Managing Director, Mike Grantis.

“We are first in building DeFi services that solve issues of faith, ethics, exclusion, and complexity. Our user-friendly platform provides equal opportunities to everyone, not only those who share our concern for holding crypto assets that are halal. With Contango’s support, we will continue our journey of growth and development within Islamic communities and beyond.” – MRHB DeFi CEO Naquib Mohammed.

MRHB DeFi was founded on the principle of bringing societies and communities not familiar with decentralized finance into the space, and has a particular focus on delivering halal DeFi services which adhere to the tenets of Islamic faith, such as business practices that avoid interest, usury, exploitation and other acts deemed unethical. 

With more than USD 3 trillion in liquidity available in the Islamic finance market, bringing even a tiny portion of this to DeFi will represent a major step forward in the growth of DeFi worldwide, and will enable people with no experience of the market to share in its opportunities.

MRHB DeFi recently announced partnerships with Sheesha Finance, NewTribe Capital, Acreditus Partners, EMGS Group and Coinsbit India, working towards expanding its reach and visibility to people new to blockchain, as well as long time believers in the cryptocurrency and digital asset industry.