Fiat-backed Stablecoin coins: are they halal?

What is Fiat-backed Stablecoin?

This is one of the categories our screening covers — a grouping of coins that share a common function or narrative within the broader crypto market.

How CryptoUmmah screens Fiat-backed Stablecoin coins

As with every category we track, coins here are screened individually against our 27-point methodology across the three core pillars — riba (interest), gharar (uncertainty), and maysir (speculation/gambling) — rather than being judged by category label alone. Two coins sharing this tag can land on very different verdicts depending on their specific tokenomics, revenue model, and governance structure. Across the 72 Fiat-backed Stablecoin coins we've screened, the average Shariah compliance score sits at 55.6/100, with 11% classified Halal, 56% Mashbooh, and 33% Haram.