ArabianChain Technology, has announced that it has signed a joint venture with Curiositas to create Wethaq, the world's first platform for Islamic capital markets using smart contracts and legal automation.
Wethaq will play the role of a platform for financial institutions, fundraisers and investors to use in the pre-sale, issuance as well as management and secondary trading of Sukuk products.
For a competitively priced success fee, clients will be able to use Wethaq's comprehensive and standardised platform for the entire lifecycle of their Sukuk product.
ArabianChain, founder and CEO, said this is first ever global venture using frontier technology in Islamic Capital markets and we believe that the Islamic finance ecosystem will benefit from this transparent, efficient as well as competitively priced platform.
Wethaq is expected to see issuance of its first Smart Ijarah in the first half of 2019.