Cryptocurrency exchange Bybit has introduced an Islamic cryptocurrency account designed for its Muslim customers, according to a Sept. 24 announcement.

Bybit CEO Ben Zhou announced the update in a social media post on X, stating:

“The world's first Crypto Islamic account is now fully operational on Bybit. Shariah-compliant features include spot trading (limited to 75 Shariah-compliant tokens), DCA trading bot, and Spot Grid Bot.”

According to the Shariah ruling , digital assets can be considered “mal” (assets of value) within Islamic law. The assets traded on Bybit are based on technology without any physical equivalent, classifying them as goods (‘urudh) rather than currency. As they are not deemed ribawi (interest-bearing), the traditional rules governing currency exchange (bay’ al-sarf) do not apply.

This initiative represents a significant advancement in providing Shariah-compliant crypto trading, offering Muslim users a readily accessible platform.

Bybit's Islamic Account provides a diverse range of compliant products, enabling Muslim traders to participate in the digital marketplace in accordance with Islamic principles. Developed in partnership with ZICO Shariah Advisory Services and CryptoHalal, the platform guarantees compliance with Islamic law.

The platform supports a variety of digital assets, including prominent options like Tether's USDT , Avalanche , Litecoin , and Uniswap .

Turkey licensing

This launch follows closely on the heels of Bybit Türkiye’s designation as an official cryptocurrency asset service provider by Turkey’s Capital Markets Board (CMB).

According to a Sept. 23 statement , Bybit Türkiye, operating through the local entity Narkasa Yazılım Ticaret Anonim Şirketihas, prioritized regulatory compliance since rebranding in June 2024.

The exchange anticipates that this move will further strengthen its presence in Turkey. The platform has stated that it has incorporated advanced technologies and offers trading pairs with the Turkish lira.

It also partners with local banks such as Ziraat Bank and Vakıfbank to provide seamless banking options. Furthermore, Bybit has incorporated features like one-click purchasing, catering to both novice and experienced traders.