MRHB LTD

Based in Australia, MRHB LTD operates as a decentralized finance (DeFi) platform tailored for the halal cryptocurrency sector, offering innovative solutions that align with Islamic finance principles. MRHB LTD is a Sydney, Australia-based company that focuses on providing halal-compliant financial products in the cryptocurrency market. Founded in 2020 by Naquib Mohammed, the company has successfully closed three deals. Its most recent funding round was a Seed round, through which it raised USD 0.

180 mn on July 24, 2024, from Orbit Startups. MRHB Network offers a suite of innovative financial products and services tailored for the halal cryptocurrency and DeFi market. Central to their offerings are the MRHB Incentivization & Reward Offering (M. I.

R. O. ), a decentralized governance platform enabling community participation in decision-making, and the Sahal Wallet, a self-custodial, multi-chain wallet facilitating seamless transactions and asset management. Additionally, MRHB provides MPower, which allows users to utilize cryptocurrencies for everyday transactions, including mobile recharges and shopping through virtual prepaid cards and gift cards.

TijarX serves as a digital asset exchange focused on Halal-certified crypto assets, enabling users to trade tokenized commodities like gold and silver. These products cater to a diverse clientele, including individuals seeking ethical investment opportunities and those adhering to Islamic finance principles, with services available across multiple markets including Southeast Asia, the Middle East, and parts of Europe. MRHB Network generates revenue through transaction fees associated with its various offerings, including trading fees on TijarX and transaction fees incurred during the use of MPower services. Users can engage with the platform by purchasing Halal-certified crypto assets or utilizing the Sahal Wallet for daily spending, which involves directly converting their digital currencies into fiat equivalents for various service providers.

The company benefits from the issuance and governance of its utility token, the MRHB Token, which users employ across the ecosystem. Revenue streams include transaction fees from liquidity pools in the EMPLIFAI model and commissions from virtual prepaid card transactions, thus creating a diversified financial ecosystem. The focus on ethical and Shariah-compliant services ensures that clients are actively participating in a responsible financial environment aligned with their values. In July 2024, MRHB LTD raised USD 180,001 in Seed funding from Orbit Startups.

The recent funding will be directed towards the development of new products and services aimed at enhancing user engagement and expanding their market presence. The company plans to launch several innovative features within the next year, designed to facilitate broader access to halal cryptocurrency solutions. Additionally, MRHB LTD is targeting expansion into new markets, specifically Southeast Asia and the Middle East, by the end of 2025 to broaden its geographic footprint and customer base.