KARACHI: Islamic cryptocurrencies such as X8X Token and OneGram are emerging globally as safer and more reliable investments than traditional safe-haven assets like gold, government bonds and popular cryptocurrencies such as bitcoin and ethereum, according to details of a study released on Thursday.
Research from the Institute of Cost and Management Accountants of Pakistan (ICMA) showed that by combining Sharia compliance, asset backing and blockchain transparency, these digital assets are redefining safe-haven investing in volatile global markets.
Blockchain and digital currencies are transforming finance worldwide. The global cryptocurrency market surpassed $1 trillion in 2023, with over 420 million people owning cryptocurrency, highlighting its growing adoption. Meanwhile, the global Islamic finance industry has grown to over $3 trillion, reflecting strong demand for Sharia-compliant financial instruments. Yet mainstream cryptocurrencies like bitcoin and ethereum remain highly volatile and speculative, exposing investors to significant risks. Islamic finance principles prohibit interest, excessive uncertainty, and gambling, making stability a critical factor. Islamic cryptocurrencies address these risks while offering ethical, tech-driven investment solutions.
The ICMA’s research noted that X8X Token provides stability through a basket-backed reserve of fiat currencies and gold. Its smart algorithm continuously monitors reserves and adjusts token supply to maintain value. This self-regulating ecosystem minimises speculation and ensures investor confidence. During financial turbulence, X8X protects wealth against inflation, currency depreciation, and market volatility. With the global stablecoin market exceeding $120 billion, asset-backed digital alternatives like X8X are gaining momentum worldwide.
OneGram is fully backed by physical gold, with each token corresponding to a specific amount held securely in vaults. Transaction fees are reinvested into additional gold reserves, gradually increasing intrinsic value. Blockchain transparency allows investors to verify holdings at any time, merging the safety of gold with cutting-edge digital efficiency. Gold continues to serve as a trusted safe haven, with global demand reaching 4,700 tonnes in 2023, underscoring its enduring role in wealth preservation.
Islamic cryptocurrencies are redefining Sharia-compliant investing, complementing equities, sukuk, commodities and real estate. The research noted that their asset-backed structures reduce speculative risk, blockchain transparency ensures verification of underlying reserves, and global accessibility allows investors to participate from anywhere. These digital safe-havens enhance portfolio diversification and provide security in an unpredictable financial world.
Beyond investment, blockchain applications can transform land registries, welfare transfers, and supply chains, delivering broader social and economic benefits. The ICMA study also highlights the rapid growth of ethical fintech and decentralized finance, with the global DeFi sector surpassing $50 billion in total value locked. Islamic cryptocurrencies promote transparency, accountability and social responsibility, supporting tokenised ecosystems for property, infrastructure, commodities and welfare programmes.
“X8X and OneGram are not only Sharia-compliant but also practical solutions for investors seeking stability in uncertain times. These innovations are set to redefine safe investments for Sharia-compliant portfolios globally, offering stability, diversification and inclusion in a technology-driven financial future,” the research showed.
