Hada DBank, the Islamic bank on the Blockchain, has confirmed a listing agreement of its native digital asset HADACoin with the F1Cryptos exchange platform, which will come into effect after the conclusion of its token sale event later this year. A pre-sale is now ongoing until February 28th, 2018.
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Islamic Banking and Blockchain: a Natural Fit
For Hada DBank, the current prominence of blockchain technology comes at an opportune moment for a team that envisions social change in the financial system, at once leveling the field for the huge global unbanked population and bringing redress to an archaic banking structure with foundational flaws. The transparency necessary for this already has a tangible solution in Blockchain technology, hence the attempt to marry ethical Islamic banking principles with the intrinsic transparency of Blockchain.
The offer for listing of its HADACoin native digital asset on the F1Cryptos exchange represents a similarly logical proposition: with both firms sharing the same beliefs for blockchain’s role in redefining the next era of financial technology. The listing offers obvious benefits to HADACoin, with opportunity for liquidity and fulfilling external demand expected to have a positive influence on future valuation of the digital asset.
HADACoin’s Listing on F1Cryptos: a Rational Partnership
In view of this significant partnership, Scandinavian owned F1Cryptos partner Michael Buchbinder and agreed to an interview with Hada DBank head of PR Ernest Loh, discussing the events leading up to the agreement and the rationale behind it. Wayne Barker also joined the interview, representing HADA DBank’s strategic media partner, Bitcoin PR Buzz, to include opinions on related topics.
Ernest Loh (EL): The best parts of upcoming companies are always their origin stories. Tell us briefly how it happened, how the team got involved and when did F1Cryptos started picking up momentum?
Michael Buchbinder (MB): “Long before crypto exchanges grew in notoriety, running an FX brokerage and asset management firm was our forte for many years. However, we quickly recognized shifts in the fintech world when it came to cryptocurrency. We wanted to accept crypto payments from clients to trade with our FX brokerage. Hence, we took a trip to New York to meet several service providers. During our trip, we learned that the technology was a whole exchange. We knew we could take our expertise from the FX industry and bring the best experience to clients in cryptos.”
EL: How did you first stumble upon HADACoin?
MB: “I was having a chat with the president of DE Asset Management Limited, Darrell Emmanuel. As he happens to be one of the advisors for Hada DBank, he made the introduction to HADACoin and we went on doing more research into them.”
EL: We noticed you currently list only world-leading cryptocurrencies, what made you see potential in HADACoin to be listed among them?
MB: “From our due diligence, we saw that the idea and business were realistic. In the blockchain space, there aren’t many Islamic Digital banks with an intent towards reaching out to the unbanked like Hada. We came to understand their business model brings value in what seems to be a fair and just interaction with the customer. This is where we saw the opportunity: if their customer can benefit, the company has potential. They are proving to have all of the right pieces to make their vision a reality.”
EL: Where do you see the demographics of cryptocurrency going? According to several publications and surveys online (Independent, Coindesk, The Merkle), there seems to be a steady trend of a younger crowd hopping onto the platform to trade. Is F1Cryptos making any moves to attract younger audiences?
MB: “Our core is focusing on working with and educating institutions and funds, we also plan on engaging the age demographic between 20-30 that really seems to be embracing blockchain and the new possibilities emerging with cryptocurrencies. We plan on reaching them through social media platforms and other chat groups such as telegram and other avenues they use.”
EL: Do you have a set of criteria you go through when you’re picking out potential cryptocurrencies to be listed?
MB: “Each cryptocurrency is unique, however, we like to see a viable idea. We believe many have great visions but finding the right balance between a great idea and having the right framework to execute these ideas are just as vital. These are easily the main variables when considering whether to list a cryptocurrency on our exchange.”
EL: How will traders see the addition of another cryptocurrency such as Hada Coin in F1Cryptos? Would news like this excite potential traders?
MB: “HADACoin will appear in the drop-down menu of available trading pairs, for all of our users on our exchange. Our clients are always excited to have premier buying opportunities to get in at the beginning.”
EL: Scandinavian Capital Markets (SCM) is a registered entity with the Swedish Financial Supervisory Authority, hence, giving F1 Cryptos a good standing in establishing itself as a safe and trusted crypto exchange platform. How will this affect potential customers and investors of Hada Coin?
MB: “Our long-standing history in the FX space gives us a lot of experience within a similar industry of how to safely run operations. Our origin story stems from FX and we’ve spent quite a number of years understanding and navigating this industry. We found in the culture that crypto exchanges share somewhat similar customer psychological mindset when it comes to trading.”
Upon discovering that Hada DBank and F1Cryptos bore remarkable similarities in their approach and outlook on how digital banking should serve a global clientele, the vastly experienced exchange operators believe that their FX brokerage expertise would benefit from accessing HADA DBank’s potential.
For the Blockchain-based Islamic digital bank, being associated with an exchange listing only the most viable projects capable of commercial success was an endorsement of Hada DBank’s pioneering efforts to innovate banking and fintech.
About HADA DBank
Hada DBank aims to integrate blockchain technology with digital banking modules modeled upon Islamic financial principles that advocate for ethical and transparent banking and financial transactions.It believes in a duty to place customers at the forefront of its priorities, seeking in mutual benefit and growth for the diverse needs of each individual. Thus, “Caring and Personal” will guide all aspects of Hada DBank’s products, services and corporate culture.
Hada DBank is in the midst of a crowd funding campaign, currently at pre-sale stage. HADACoin tokens are available for purchase at a current promotional price of 1 ETH – 4,000 HADACoin.
To learn more about Hada DBank’s objectives, visit the website and read the whitepaper. Follow their blog on Medium or read updates on BitcoinTalk. For the latest, join them on Twitter and Facebook, or meet the team on Telegram.