With Islamic finance close to $12.5 billion, Sharia-compliant crypto projects aim to serve 2 billion Muslims, but have lagged behind growing demand.
Despite the market struggles to meet the expectations of the global 2 billion Muslims seeking ethical, interest-free financial services, new reports from the Input touch on the growing demand for Sharia-compliant crypto products.
The Islamic finance sector, currently valued at $8 billion, is projected to reach $12.45 billion by 2028, growing at a rate of 11.7% per year, according to a memo shared with Crypto.news.
This growing interest is to generate momentum in a platform that is consistent with Islamic fiscal principles, including its association with RIBA (interest), gallah (uncertainty), and haram (prohibited) industries.
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Digital assets that comply with Islamic law
Major projects include the HAQQ Network, MRHB, SIDRA Chain, and Gold Sand (formerly Inshallah Finance). All of these create ecosystems around Defi and Digital Assets that comply with Islamic law. The HAQQ network is the biggest standout, with $400 million in funding and over 6 million users of Islamic Coins allotting 10% to charities.
MRHB’s four-produced Defi stacks include Tijarx and Emplifai, while Goldsand supports Halal Staking with $4.5 million betting assets.
New Input Report: “Sharia-compliant cryptographic products are in low demand in 2025”
2 BLN Muslims want financial services to suit their values, but few compliant services are available.– Islamic Finance → 12.45B $12.45B (11.7% CAGR) by 2028
– 85% of Z Muslims want Islamic banks…pic.twitter.com/n9oybabfqg– Input Communication Agency (@input_comms) April 10, 2025
Meanwhile, Sidra Chain processes around 13 million transactions from over 700,000 users.
Despite this advancement, the report points to a lack of delivery compared to demand. Especially among Z Muslims, 85% are already involved in Islamic banking products.
Experts say the path ahead is clarity of regulations and standardized Sharia governance. With Islamic finance forecasting to reach $4 trillion worldwide, Sharia-compliant cryptos could become a key pillar of the emerging digital economy if they can expand to meet growing demand.
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