Iran To Develop Muslim Crypto With Turkey and Malaysia

If things go according to plan, the world might see a Muslim asset developed and issued sometime soon. The idea was put forward by Iranian President Hassan Rouhani during a discussion at the recent “Kuala Lumpur Summit 2019”.

The event was put together to brainstorm and find solutions to issues which are being faced by the Muslim world. These solutions are aimed at improving the general welfare of Islamic nations and all Muslims by extension. Apart from the Iranian president, other world leaders were present. They include Turkish President Recep Tayyip Erdogan and also the Malaysian Prime Minister Mahathir Mohamad.

According to an Associated Press report, cited by Bitcoin.com, Rouhani expressed his desire for the digital currency to strengthen these countries and increase dependence among themselves.

“Rouhani proposed an Islamic financial payment with Muslim countries trading in local currencies and the creation of a Muslim cryptocurrency to cut reliance on the U.S. dollar and weather the effects of market fluctuation.”

According to Rouhani, this is the best way to get around U.S. sanctions being used as the “main tools of domineering hegemony and bullying.”

Apart from the cryptocurrency, Rouhani believes that the Muslim world should come together and strengthen their own bonds, as is the best solution to surviving the American financial regime.

Back in January, Kryptomoney reported that Iran had plans to create its own cryptocurrency for the same reason.

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