Is NEXO (NEXO) Halal or Haram?
Shariah compliance review of NEXO (NEXO) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Non-Comfortable
Nexo is a lending platform for cryptocurrencies. Lenders can lend their digital assets such as Bitcoin, Tether, USDC, and more for interest. Sharlife.my analisys: We classified this utility token as non-Shariah compliant as its protocol and token are clearly built based on riba' system.
Staking verdict: Non-Comfortable
Given our conclusion under Shariah standards regarding the permissibility of buying and selling the NEXO, any other instrument that involves NEXO is better to avoid.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.