Major crypto exchange Binance has launched a sharia-compliant multi-token staking platform, Sharia Earn, officially certified by Amanie Advisors, a major Sharia advisory firm.
According to the press release, this is the first such platform in the world. The goal is to provide a more inclusive financial product in line with Islamic principles. Additionally, it will enable halal investing globally.
Binance says that this is their first entry into Islamic finance. The new platform “has been developed in alignment with faith-based principles.” It offers a way for users to earn yield within the parameters of a Sharia-compliant product, the team claims.
Moreover, Sharia Earn launches with Binance Coin (BNB), Ethereum (ETH), and Solana (SOL).
To start, the product will be available for users in 31 countries. This includes Afghanistan, Bangladesh, Egypt, Indonesia, Maldives, Morocco, Nepal, India, Pakistan, Palestine, Qatar, Saudi Arabia, Sri Lanka, Turkey, and the United Arab Emirates, among others. The FAQ indicates that the exchange plans to expand availability to additional jurisdictions.
Additionally, the platform’s underlying technology is that of Binance Earn’s BNB Locked Products, ETH Staking, and SOL Staking. Sharia scholars reviewed all three products.
BNB rewards are generated on-chain through the Simple Earn Locked Products. Users will receive it daily at a variable rate, directly in Spot Accounts.
For ETH and SOL, users receive WBETH and BNSOL upon subscription, the blog post says. These tokens reflect both the principal and accumulated halal rewards.
The burn operation took place precisely at 07:29:06 AM UTC on July 10, eliminating 1,595,599.78 BNB tokens from circulation, valued at approximately $1.07 million based on an average BNB price of $660.16.
Remarkably, despite the substantial volume of tokens burned, the transaction fee amounted to merely 0.0000021 BNB (equivalent to $0.001411).
BNB token…
‘No Interest or Excessive Uncertainty’
Halal (permissible), or Sharia-compliant investing, is an investment approach that excludes haram (forbidden) activities. These include interest (riba) and gambling, among others.
“Sharia Earn is where two financial systems meet – Islamic finance and blockchain technology,” the announcement says.
It continues: “While crypto challenges traditional finance through decentralization, Islamic finance challenges it through halal guidelines – principles such as risk sharing, wealth circulation, prohibition of interest (riba) and excessive uncertainty (gharar).”
Therefore, Sharia Earn is certified by Amanie Advisors, ensuring that users’ assets are managed in full accordance with Islamic finance principles. This includes zero exposure to interest, “excessive uncertainty,” and factors forbidden by Islam, such as alcohol, gambling, or adult content.
This also means that all funds go into ventures and assets that are permissible under Islamic law.
Moreover, funds are staked through a Wakala agreement, a structure that enables Halal delegation of capital.
Binance argues that the Islamic finance market is over $4 trillion, but that the ambiguity around religious compliance prevents millions of Muslims from entering decentralized finance (DeFi) and earning passive income in crypto.
Also, the exchange is running launch promotions with up to $100,000 in USDT rewards via two campaigns.
Meanwhile, a recent mid-year report from blockchain analytics firm CryptoQuant said that Binance sat at the top of multiple exchange metrics in the first half of 2025.
Binance and Coinbase were the top-performing exchanges in their respective categories during this period.
Binance was the leader in spot volume, futures trading, stablecoin reserves, capital inflows, and on-chain user activity. At the same time, Coinbase was a primary institutional exchange, with researchers noting its reserve holdings and usage on the Ethereum network.
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