Ruya launches world’s first Shari’ah-compliant Bitcoin trading service for Islamic banking customers

Ruya, the UAE’s digital-first Islamic bank, has become the first Islamic bank globally to allow customers to buy and sell Bitcoin directly through its mobile app.

The service forms part of ruya’s wider investment strategy to promote ethical Islamic wealth creation and support long-term financial resilience.

Developed in partnership with Fuze, a licensed and established leader in the virtual asset sector, the solution enables secure, user-friendly and fully Shari’ah-compliant access to Bitcoin.

Shari’ah-compliant Bitcoin

The launch aligns with intensifying global interest in digital assets and the UAE’s positioning as a leading fintech hub, where ethical and transparent digital investment options are increasingly in demand.

According to the Chainalysis 2024 Geography of Crypto Report, the UAE recorded more than $30bn in cryptocurrency inflows between July 2023 and June 2024, representing a 42 per cent year-on-year increase.

The report also highlighted strong growth in decentralised finance (DeFi), with total value received by DeFi services rising 74 per cent and decentralised exchange (DEX) activity increasing 87 per cent — from roughly $6bn to $11.3bn.

Chainalysis attributed this momentum to regulatory clarity provided by the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA).

Christoph Koster, CEO of ruya, said: “At ruya, we are committed to shaping the future of finance in the UAE by offering innovative services rooted in ethical Islamic banking. By enabling our customers to invest in Bitcoin through our platform, we empower them to participate in the digital economy responsibly. All Bitcoin investments available via ruya are fully Shari’ah-compliant, providing customers with confidence and clarity.”

Mo Ali Yusuf, Co-Founder and CEO of Fuze, said: “Our partnership with ruya brings together expertise in digital assets and Shari’ah-compliant banking, creating a platform that is both secure and ethically grounded. Together, we are redefining how customers can approach virtual asset investing in a responsible and transparent way.”

Islamic finance

Rruya emphasises that its virtual asset offering is designed to support long-term wealth creation rather than encourage speculative trading. The Bitcoin service sits within a curated investment framework that prioritises financial resilience, ethical conduct and customer education.

Key features include:

• Direct in-app access to buy and sell Bitcoin securely
• Full transparency and Shari’ah governance, overseen by ruya’s Shari’ah supervision committee
• A licensed partnership with Fuze to deliver a seamless, trusted virtual asset experience
• Competitive fees, positioning ruya among the lowest-cost Bitcoin trading platforms in the market
• A focus on responsible investing, avoiding speculative behaviour
• Educational support, including in-app guidance, webinars and dedicated customer service

Alternative assets

Koster added: “By partnering with Fuze, we’ve ensured our customers benefit from a robust and trusted platform to access opportunities in the virtual asset space. This service reflects our promise to innovate while upholding the highest standards of ethical Islamic banking.”

The launch marks a significant milestone for the UAE’s financial sector and reinforces ruya’s position as a pioneer in digital Islamic banking.