Blade Labs launches world’s premier Embedded Islamic Digital Finance Platform

By Gloria Mathias

Blade Labs, a pioneer in Islamic FinTech, has announced the launch of the world’s first embedded Islamic digital finance platform powered by Hedera’s enterprise-grade public distributed ledger at the Singapore FinTech Festival 2024.

This platform enables seamless integration of Shariah-compliant financial services into any business application. The move follows Blade’s participation in Qatar’s prestigious Digital Asset Lab, marking a significant milestone in the company’s mission to revolutionise the global distribution of tokenised assets and drive digital transformation in the Middle East’s Islamic FinTech sector.

The platform leverages Hedera’s public permissioned network, governed by global organisations, including Google, LG, Boeing, and Nomura. It ensures enterprise-grade security and scalability while maintaining full Shariah compliance. This solution allows non-financial institutions to embed Islamic financing capabilities directly into their existing services, dramatically expanding access to Shariah-compliant financial products.

“Today marks a pivotal moment in Islamic finance as we embed modern technology into the timeless values of Shariah-compliant finance,” said Sami Mian, CEO of Blade Labs.

Key features of the platform include:

• Automated Shariah-compliant smart contracts approved by scholars with over 30 years of experience
• Real-time transaction processing and settlement
• Transparent audit trails on Hedera’s immutable ledger
• Seamless integration capabilities through APIs
• Enterprise-grade security and compliance

This launch follows investment from The Hashgraph Association (THA). As part of THA’s broader initiative with Saudi Arabia to advance technology in the Middle East, Blade Labs is well-positioned to support the region’s digital transformation in Islamic finance.

The platform has garnered significant interest from various sectors, including automotive dealers and Islamic financial institutions in Qatar, who are exploring embedded Shariah-compliant financing solutions while maintaining full regulatory compliance.