Stablecoin Protocol coins: are they halal?
5 Stablecoin Protocol coins screened against our 27-point Shariah methodology. Open any report for pillar scores, criterion breakdowns and purification guidance.
What is Stablecoin Protocol?
Stablecoin protocols are blockchain-based systems that issue and manage tokens designed to maintain a stable value, typically pegged to a fiat currency such as the US dollar. They achieve this through mechanisms such as fiat or asset collateralization held in reserve, over-collateralization with crypto assets, or algorithmic supply adjustments governed by smart contracts. The governance token of such a protocol often coordinates collateral parameters, risk management, and monetary policy for the stablecoin(s) it produces, distinct from the stablecoin itself which trades near its target peg.
- Halal0%
- Mashbooh20%
- Haram80%
| Shariah | Riba | Gharar | Maysir | ||
|---|---|---|---|---|---|
| 125 |  Curve DAOCRV | MASHBOOH68.5 | |||
| 76 |  EthenaENA | HARAM47.5 | |||
| – |  MakerMKR | HARAM47 | |||
| 1073 |  TribeTRIBE | HARAM40.9 | |||
| 975 |  SpellSPELL | HARAM29.8 |
How CryptoUmmah screens Stablecoin Protocol 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 5 Stablecoin Protocol coins we've screened, the average Shariah compliance score sits at 46.7/100, with 0% classified Halal, 20% Mashbooh, and 80% Haram.