HelloGold Achieves Sharia Compliance for Gold-Backed Cryptocurrency, Eyes Thailand Expansion

Malaysia’s HelloGold has received Sharia-compliant certification for its gold-backed cryptocurrency, GOLDX, and is set to launch its online gold platform in Thailand later this year. The certification was provided by Amanie Advisors, a Malaysian Islamic finance consultancy. GOLDX, which was introduced last year, differentiates from other cryptocurrencies as it is backed by physical gold stored in Singapore and mandates that transactions be completed within a specific timeframe. This structure aims to ensure transparency and immediacy, aligning with Islamic financial principles. HelloGold’s expansion reflects the growing influence of fintech firms in the Islamic finance sector, which spans the Middle East and Southeast Asia. The company, which has already introduced a blockchain-based mobile app for trading physical gold in Malaysia, certified by Amanie Advisors, is also considering expanding its blockchain technology to other assets.