Is PUNDIX Halal?

What is PundiX?

Pundi X uses Ethereum to introduce a means of making cryptocurrency purchases at retail establishments. The development team plans to release point-of-sale devices so that Pundi X token payments can be accepted at retail outlets.

Further details can be found on PundiX website.

PundiX Technology

PundiX plans to provide developers with our API to create a brand-new international payment ecosystem consisting of like-minded digital currency settlement applications by creating a variety of blockchain tokens.

In order to continue driving XPOS, XWallet, and XPASS, third parties will require PUNDIX to fuel the exchange transactions, rewards, payments, and incentives.

Legitimacy Screening of PundiX

As of January 2022 PundiX has over 100 staff scattered across its global offices. It was founded by Zac Cheah who has a background in gaming and tech. Danny Lim, CFO was ex Baidu and Lenovo so the leadership is credible with a number of products in development slowly being adopted across emerging markets.

This gives us the confidence to confirm that PundiX has an underlying fundamental value, that can be considered as “Mal” under Islamic rulings. Therefore, as a project it has legitimacy in terms of Shariah.

Is PundiX project aligned with Islamic values?

Yes, PundiX project does align with Islamic values. This is a payment processor or Point of Sale system provider that allows retailers to accept crypto payments. The features available in this project are sharia compliant.

Financial Screening of PundiX:

Financial screening ensures that the crypto asset meets the financial criteria for Shariah compliance, if it is an equity based token. PundiX is not backed by any equity, so there is no financial screening required on this coin/ token. Here we would typically look at things like debt to income ratio to ensure borrowing is limited to a tolerable level.

PundiX Token Screening for Shariah Compliance

QTUM’s native token allows users to pay transaction fees, audit protocol security updates, and vote on protocol upgrade proposals. Based on this the token could be considered halal.

Is Staking PundiX Halal?       

At the time os assessment there is no PundiX staking so this does not apply.

What Does The Muslim Crypto Community Think of PundiX?           

Sharlife considers PundiX as a halal cryptocurrency based on the five areas assessed for Shariah complaince screening.

If you know of other academic or scholarly views on this, please add in comments and we will update accordingly. Alternatively, you may want to join our community of Muslims crypto investors and traders, to share, learn and profit from halal digital assets.          

Is PundiX Halal?

Yes, PundiX is a point of sale system that allows retail stores to buy sell using cryptocurrency. The network seems neutral and Shariah compliant because no prohibited part was found on its feature set. Therefore, we beleive PundiX is a Halal cryptocurrency.

We hope you found this useful. Please view our Halal Crypto List to find suitable digital asset investments, without compromising your Islamic faith.